Fitch Upgr Riverside County Investment Pool; PG&E CP Repayment.Business Editors NEW YORK--(BUSINESS WIRE)--March 8, 2001 Fitch fitch: see polecat. has raised the `AA/V1+' local government investment pool (LGIP LGIP Local Government Investment Pool ) rating of the Riverside County Investment Pool to `AAA/V1+' and removes the new `AAA/V1+' rating from Rating Watch Evolving. These rating actions reflect the full repayment of principal plus accrued interest Accrued Interest The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date. There are two methods for calculating accrued interest: 1) 360-day year method, used for corporate and municipal bonds. of the pool's position in $39.7 million of commercial paper (CP) issued by PG&E Corp. (PG&E), which was scheduled to mature on Jan. 22 and which, in aggregate, represented approximately 2.2 percent of the portfolio. PG&E announced on March 2 that it had received a $1 billion loan from General Electric Co.'s GE Capital unit and Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. Holdings Inc. to restructure and pay down debt. PG&E said the loan allowed it to pay outstanding debt obligations on which it had already defaulted, which included $501 million in payments to CP holders. The `AAA/V1+' rating reflects the improved credit quality of the pool's portfolio with the full repayment of the PG&E CP and the fact that the pool continues to be invested in high-quality assets. PG&E is the parent company of Pacific Gas and Electric Co., an operating public utility serving most of Northern and Central California Central California can refer to one of several divisions or regions of the U.S state of California:
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