Correction: Fitch Affirms Longmeadow CDO Debt Fund I At 'BBB'; Upgrades Volatility to 'V7'.Business Editors NEW YORK--(BUSINESS WIRE)--July 24, 2003 (This is a revised version Revised Version n. A British and American revision of the King James Version of the Bible, completed in 1885. Revised Version Noun of a press release issued earlier, containing amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. rating action information on Longmeadow's volatility rating.) Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. the 'BBB' credit rating for Longmeadow CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the Debt Fund I and upgraded the volatility rating to 'V7' from 'V8' on July 23, 2003. The weighted average default probability of the portfolio is consistent with the default probability of a 'BBB' rated fixed-income obligation. Bond fund credit ratings do not address any risk other than credit risk. Bond funds rated in the 'V7' category are considered to have moderate to high market risk. Total returns experience significant variability across a broad range of interest rate scenarios. These funds typically exhibit substantial risks beyond exposure to interest rates and changing market conditions. Bond fund volatility ratings are assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. on a scale of 'V1' (least volatile) through 'V10' (most volatile). Volatility ratings reflect the relative sensitivity of the fund's total return and market price to changes in interest rates and other market conditions. As Longmeadow CDO Debt Fund I approaches its final maturity date, it is expected that its market risk exposures will be reduced. Therefore, the volatility rating assigned to the trust is expected to improve (be lowered) over time. Longmeadow CDO Debt Fund I is managed by David L. Babson & Co. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion