Fitch Rates Puerto Rico Fixed Income Fund's Principal Protection Notes 2006 Series F '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 -- The Puerto Rico Fixed Income Fund, Inc.'s $4,000,000 principal protection absolute return barrier notes, 2006 series F - which closed Dec. 28, 2006 - are rated 'A+' by 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. . The ratings are based on asset coverage and basic maintenance amount tests for the fund, and the experience and capabilities of the asset manager. The fund is a closed-end management investment company that invests primarily in Puerto Rican mortgage-backed securities Mortgage-backed securities (MSBs) Securities backed by a pool of mortgage loans. and government obligations, U.S. treasuries, and U.S. agency issuances. The fund is registered under the Puerto Rico Investment Companies Act, which permits closed-end funds to borrow funds through the issuance of debt and preferred stock. Under the Puerto Rico Investment Companies Act, the fund may borrow up to 50% of their total assets. The fund is required to invest at least 67% of total assets in Puerto Rican obligations. Additionally, it is required to invest at least 80% of total assets in investment-grade securities. UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System Asset Managers of Puerto Rico is the investment adviser for the fund, and is a division of UBS Trust Company of Puerto Rico. UBS Trust Company of Puerto Rico is the collateral agent and an affiliate of UBS AG and UBS Financial Services Puerto Rico, the fund's dealer. The Puerto Rico Fixed Income Fund's Principal Protected notes Investments such as guaranteed investment certificates (GICs) and bonds provide investment security with little or no risk of capital loss, they provide modest returns. While stocks have the potential to deliver substantial returns, they do so at much greater risk. may be purchased by or transferred exclusively to individuals having their principal residence within the Commonwealth of Puerto Rico and to persons, other than individuals, organized under the laws of Puerto Rico and whose principal office and principal place of business are located within the Commonwealth of Puerto Rico. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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