California Code of Regulations
Title 10 - Investment
Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions
Subchapter 80 - Money Transmission
Article 6 - Licensees
Subarticle 4 - Eligible Securities
Section 80.5304 - Eligible Ratings

Universal Citation: 10 CA Code of Regs 80.5304

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

The Commissioner finds that the ratings categories assigned to the respective classes of securities or the issuer of the securities by the respective eligible securities rating services, as specified in the subdivisions of this Section, indicate that the applicable classes of securities of the rated issuer and the rated classes of securities are each of sufficient quality to be eligible securities for purposes of subdivisions (b)(4), (6) and (7) of Financial Code section 2082. Therefore, the Commissioner declares the ratings categories assigned to the respective classes of securities or the issuers of the applicable classes of securities by the respective eligible securities rating services, as specified in the subdivisions of this Section, to be eligible ratings for purposes of subdivisions (b)(4), (6) and (7) of Financial Code section 2082:

(a) Moody's Investors Service, Inc.:

(1) Long-term obligations: Aaa, Aa, and A categories.

(2) Short-term obligations: P-1 and P-2.

(3) Municipal short-term obligations: MIG 1/VMIG 1 and MIG 2/VMIG 2.

(b) Standard & Poor's Ratings Services:

(1) Long-term obligations: AAA, AA, and A categories.

(2) Short-term obligations: A-1+, A-1, and A-2.

(3) Municipal short-term notes: SP-1+, SP-1, and SP-2.

(c) Fitch, Inc.:

(1) Long-term obligations: AAA, AA, and A categories.

(2) Short-term obligations: F-1+, F-1, and F-2.

1. Change without regulatory effect amending section filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).
2. Amendment of section and NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No. 33).

Note: Authority cited: Sections 321, 334 and 2087, Financial Code. Reference: Section 2087, Financial Code.

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