The press release, "Fitch Comments on Shift Away from MTM Pricing for Money Market Funds", was posted Thursday, saying, "Temporary changes in mark-to-market (MtoM) pricing procedures, resulting from the extreme market dislocations and illiquidity, may alleviate net asset value (NAV) pressures facing money market funds but do not entirely mitigate potential asset illiquidity or redemption risk, according to Fitch Ratings." Also, see "Fitch Expects to Rate 5 Money Market Investor Funding Facility Related ABCP Programs 'F1'". The release says, "Fitch Ratings expects to assign an 'F1' rating to each of five asset-backed commercial paper (ABCP) programs that have been created in conjunction with the recently announced Money Market Investor Funding Facility (MMIFF)." The programs and approximate sizes are: `Hadrian Funding Co., LLC ($220 billion); Trajan Funding Co., LLC ($150 billion); Aurelius Funding Co., LLC ($135 billion); Antoninus Funding Co., LLC ($60 billion); and, Nerva Funding Co., LLC ($35 billion). Finally, see Federated Investors, Inc. Reports Third Quarter 2008 Earnings; Total Managed Assets Increase to Quarter-End Record $344 Billion.
