Fitch Updates Rating Criteria for Non-US Closed-end Funds

Tue Mar 18, 2014 10:42am EDT

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(The following statement was released by the rating agency) Link to Fitch Ratings' Report: Rating Debt and Preferred Securities Issued by Non-US Closed-End Funds here LONDON/NEW YORK, March 18 (Fitch) Fitch Ratings has updated its criteria for rating debt and preferred securities issued by non-US closed-end funds. Increasingly, Fitch sees closed-end funds as one alternative funding vehicle for assets traditionally held by banks and other financial institutions, as part of a broader trend toward disintermediation. The updated report does not include any material changes to the agency's ratings approach and as a result, there is no impact on existing ratings. The criteria report is available at www.fitchratings.com or by clicking on the link above. Contact: Alastair Sewell Senior Director +44 203 530 1147 Fitch Ratings Ltd 30 North Colonnade London E14 5GN Roger Merritt Managing Director +1 212 908 0636 Media Relations: Hannah Huntly, London, Tel: +44 20 3530 1153, Email: hannah.huntly@fitchratings.com. Additional information is available on www.fitchratings.com. ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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