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ARCHIVE | Criteria | Financial Institutions | Fixed-Income Funds: New Volatility Rating Scale for Bond Funds Dec 98
Standard & Poors, Dec 1998
Abstract
(Editor's note: Correcting factual error of example given in the 'Interest Rate Risk' section to read 'when rates rise by one half of 1%', NOT 'when rates rise by 1%'. The article was first published Dec. 8, 1998). Standard & Poor's Managed Funds Group announced its new bond fund volatility rating scale, or S1 to S6, which replaced the lower case letter rating scale originally introduced in January 1994. The new scale, which ranges from S1 (indicating low sensitivity to changing market conditions) to S6 (highest sensitivity), is intended to provide investors with a comprehensive evaluation of a bond fund's level of volatility. The new rating scale further distinguishes the volatility ratings from Standard & Poor's traditional issuer and issue...
Companies mentioned in this report are: Salomon Brothers Inc.,JPMorgan Chase & Co.
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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