Common use of Quality Standards for Investments Clause in Contracts

Quality Standards for Investments. Securities must be rated at the required quality level by [both S&P and Xxxxx’x] [a nationally recognized statistical rating agency]: Security Minimum Credit Rating Asset backed securities Aaa/AAA Money Market Instruments A1/P1 Non-domestic US dollar denominated securities A1/P1 Domestic corporate notes, bonds and debentures A2/A Domestic financial notes, bonds and debentures A2/A Canadian corporate notes, bonds and debentures A2/A Floating and variable rate securities Final stated maturities two years or less A2/A Final stated maturities more than two years] AA2/AA Supranational and foreign (excluding Canada) Aaa/AAA Sovereign issues A1/P1 Canadian government and provincial issues A1/A+