Fitch Places Riverside Cnty Investment Pool On Rtg Watch Neg.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 18, 2001 Fitch places the `AAA/V1+' local government investment pool (LGIP LGIP Local Government Investment Pool ) ratings of the Riverside County Investment Pool on Rating Watch Negative. This action reflects the pool's $39.7 million exposure (approximately 2.17%) of pool assets to commercial paper (CP) issued by Pacific Gas and Electric (PG&E) maturing Jan. 22. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Depository Trust Company Depository Trust Company (DTC) DTC is the world's largest central securities depository. It accepts deposits of over 2 million equity and debt securities issues (valued at $23 trillion) from over 65 countries for custody, executes book-entry deliveries (valued at over $116 trillion , PG&E refused to pay principal and interest due on the commercial paper maturing on Jan. 17. The Rating Watch addresses the diminished di·min·ish v. di·min·ished, di·min·ish·ing, di·min·ish·es v.tr. 1. a. To make smaller or less or to cause to appear so. b. credit quality of the pool's portfolio due to inclusion of the PG&E CP. The balance of the pool continues to invest in high quality assets consistent with Fitch rating criteria for LGIPs. Fitch is actively monitoring the developments at Riverside County with respect to the pool. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion