Fitch Rates Puerto Rico Fixed Income Fund's Global Equity Notes 2007-A 'A+'.
The fund is a closed-end management investment company that invests primarily in Puerto Rican mortgage-backed securities 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 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 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.
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|Date:||Jan 31, 2007|
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