Crane Data Subscribers
S and P Rates Florida LGIP AAAm; Federated 13 Bps Launch on Hold. Standard & Poor's Ratings Services has assigned its highest principal stability fund rating, AAAm, to the Florida Local Government Investment Pool A, offered by the State Board of Administration (SBA) of Florida and managed on an interim basis by BlackRock. The SBA and Wilshire Associates "will develop an invitation to negotiate for the long-term contract for the LGIP money market management services". S&P expects the invitation to be issued "before January", and says the new manager must have 5 years experience managing an S&P AAAm prime institutional fund with over $10 billion in assets as of 9/30/07. S&P also withdrew a AAAm rating on the pending Federated Money Market Management Fund due to the postponement of the launch of the new 13 basis point institutional Premier Share Class. The fund's introduction has been delayed due to "current market conditions".
