Mediaboss Marketing

NEW YORK--(BUSINESS WIRE)--

Fitch Ratings affirms the 'AAA/V1' fund credit and volatility ratings assigned to CRA/LA, A Designated Local Authority's (CRA/LA) investment portfolio (f/k/a Community Redevelopment Agency of the City of Los Angeles, California Investment Portfolio). As of Feb. 29, 2012, the portfolio had approximately $267.6 million in assets under management.

KEY RATING DRIVERS

The rating affirmation follows Fitch's annual review of the portfolio. The affirmation of the 'AAA' credit rating reflects the lowest vulnerability to losses as a result of defaults in securities and is based on the actual and prospective average credit quality of the portfolio's investments.

The main drivers for the credit rating affirmation are:

--The portfolio's overall credit quality and diversification;

--Sufficient portfolio liquidity relative to cash outflows;

--Investment capabilities of CRA/LA as the pool's manager.

The affirmation of the fund volatility rating is based on the stability of the market risk profile, as reflected by duration.

The 'V1' fund volatility rating reflects the portfolio's low market risk and capacity to return stable principal value to meet anticipated cash flow requirements, even in adverse interest rate environments.

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Fitch Affirms CRA/LA, A Designated Local Authority's Investment Portfolio at 'AAA/V1'