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Article: Fitch Rated $5.7B U.S. Secondary Market Synthetic Securities in First Half '04.
- Article from:
- Business Wire
- Article date:
- August 30, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Fitch Ratings assigned ratings to 556 secondary market synthetic securities with dollar volume totaling $5.7 billion during the first six months of 2004. The number represents a 63.5% increase from the number of issues rated during the first half of 2003 when 340 issues were rated. Of the volume rated 98.0% or $5.6 billion of the securities were secondary market synthetic securities with put options. The remaining 2.0% of the rated securities were inverse floating-rate receipts and custodial receipts.
The number of issues rated and dollar volume of the securities have been increasing since Fitch began rating secondary market synthetic securities in ...