Bonds News

CDS IndexCo announces changes to US HiVol index

NEW YORK, Sept 11 (Reuters) - CDS IndexCo LLC, a consortium of banks that make markets in the benchmark U.S. credit derivative indexes, on Tuesday announced changes to the new series of the investment grade high volatility index that will be introduced this month.

Companies removed from series nine of the index will include Alltel Corp. AT.N, Arrow Electronics Inc. ARW.N, Boston Scientific Corp. BSX.N, Computer Sciences Corp. CSC.N, Expedia Inc. EXPE.O, First Data Corp. FDC.N, Olin Corp. OLN.N, Residential Capital, LLC, The Sherwin-Williams Co. SHW.N, Temple-Inland Inc. TIN.N and Tyson Foods, Inc. TSN.N, CDS IndexCo said.

They will be replaced by Belo Corp. BLC.N, iStar Financial Inc. SFI.N, CIT Group CIT.N, Gannett Inc. GCI.N, Home Depot Inc. HD.N, Liz Claiborne Inc. LIZ.N, MeadWestvaco Corp. MWV.N, MBIA Insurance Corp. MBI.N, Washington Mutual Inc. WM.N, Fortune Brands, Inc. FO.N and Weyerhaeuser Co. WY.N

A new series of the index is introduced every six months. Companies are typically removed from indexes due to rating changes or illiquidity.