Fitch Affirms INDEXPLUS Trust Series 2003-1 Bond Fund at 'A-'.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- 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. affirms INDEXPLUS Trust, series 2003-1, bond fund credit rating at 'A-'. INDEXPLUS Trust Series 2003-1 are pass-through certificates Pass-Through Certificates (PTCs) are instruments that evidence the ownership of two or more Equipment Trust Certificates. In other words, Equipment Trust Certificates may be bundled into a pass-through structure as a means of diversifying the asset pool and/or increasing the size representing direct ownership in a static portfolio of 15 corporate bonds and one treasury STRIP. Purchasers of INDEXPLUS Trust, series 2003-1, will generally have all the rights and privileges of owners of the underlying bonds. The rating addresses the weighted average default probability probability, in mathematics, assignment of a number as a measure of the "chance" that a given event will occur. There are certain important restrictions on such a probability measure. of the portfolio securities but does not address the likelihood of receipt of interest and principal to the trust certificates. Bond fund credit ratings do not address market risk as a result of exposure to interest-rate risk and changing market conditions. Any subsequent ratings 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. following the removal of a reference entity from the trust's portfolio will only address the average credit quality of the remaining nondefaulted reference entities in the trust's then-current portfolio and will not reflect the credit risk of any reference entities removed from the trust's portfolio. |
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