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ARCHIVE | Criteria | Financial Institutions | Fixed-Income Funds: Principal Stability Fund Ratings Criteria Updated Mar 09
Standard & Poors, March 2009
Abstract
Since 1984, Standard & Poor's Rating Services has assigned principal stability fund ratings (PSFRs) and fund credit quality/volatility ratings (FC&VRs) to fixed-income funds globally. We are updating and clarifying some aspects of our methodology for PSFRs to add net asset value (NAV) deviation ranges for each rating category and to clarify our analysis of certain issues during these unusual market times. We do not anticipate any rating changes resulting from this criteria update. This article updates the methodology in 'Principal Stability Fund Ratings Criteria,' published Feb. 2, 2007, on RatingsDirect and at www.standardandpoors.com. Our PSFR criteria address the capacity of a fund to maintain principal value and limit exposure to loss due to credit, market and/or liquidity risks. With respect...
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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