Fitch Ratings Added to Credit Suisse LUCI.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 -- Credit Suisse has revised its ratings methodology for the Liquid U.S. Corporate Index (LUCI) to include 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. along side Moody's and S&P in its inclusion criteria for monthly issue selection. The change is effective immediately. The new LUCI methodology will use the median rating from the three major agencies. Issues must be rated at the investment grade level by two of the agencies to be included in the index. 'We are pleased to offer Fitch ratings as part of our Liquid U.S. Corporate Index inclusion methodology,' said Baldwin Smith, Director and Global Group Head of Fixed Income Index Products at Credit Suisse. 'Fitch's wide acceptance in the U.S. High Grade corporate bond market compliments the reliability of our index products.' According to a CSFB CSFB Credit Suisse First Boston CSFB Cyclically Shifted Filter Bank research report, the LUCI aggregate rating has been revised upwards to 'A' from 'A-.' Four issues have been added to the index and 12 deleted. Approximately 223 securities with a total market capitalization Total Market Capitalization The total market value of all of a firm's outstanding securities. of $185 billion, comprising 28% of the index, will be upgraded as a result of this change. Only two securities with a market cap of $2 billion will be downgraded. 'The acceptance of Fitch Ratings by important global institutions is an indication of how market participants have re-examined the way they look at ratings and the major rating agencies,' said Peter Jordan, Group Managing Director, Fitch Ratings Global Business Development. 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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