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ARCHIVE | Criteria | Financial Institutions | Fixed-Income Funds: Funds Rating Criteria: Credit Quality Feb 07
Standard & Poors, Feb 2007
Abstract
When evaluating a fund's credit quality, Standard & Poor's Ratings Services examines the risks associated with the quality, type, and diversification of the securities in each fund's underlying portfolio. The credit quality assessment for each instrument is generally based on the credit rating we have assigned to the security. The minimum credit quality standards for each fund are based on the fund's desired rating and maturity structure of its portfolio. For funds rated 'AAAm', all securities should either carry a Standard & Poor's short-term rating of 'A-1+' or 'A-1' or be deemed to be of equivalent credit quality by Standard & Poor's. A minimum of 50% of its portfolio should be comprised of 'A-1+' rated instruments or those we deem...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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