Downgrades and defaults of portfolio securities. Securities downgrades typically occur when credit spreads are widening. Sub-Administrator will perform tests measuring the impact of credit spreads widening. In addition, Sub-Administrator will assume that individual securities in a Portfolio’s investment portfolio have defaulted.
Appears in 5 contracts
Samples: Master Sub Administration Services Agreement (State Street Institutional Funds), Master Sub Administration Services Agreement (Elfun Tax Exempt Income Fund), Master Sub Administration Services Agreement (Ge Investments Funds Inc)
