The Credit Quality Rating Of Two iShares Bond ETFs Lowered To 'BBB+f' - S&P Global Ratings’ Credit Research

The Credit Quality Rating Of Two iShares Bond ETFs Lowered To 'BBB+f'

The Credit Quality Rating Of Two iShares Bond ETFs Lowered To 'BBB+f' - S&P Global Ratings’ Credit Research
The Credit Quality Rating Of Two iShares Bond ETFs Lowered To 'BBB+f'
Published Oct 13, 2021
3 pages (1807 words) — Published Oct 13, 2021
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Abstract:

AUSTIN (S&P Global Ratings) Oct. 13, 2021-- S&P Global Ratings today said it lowered its fund credit quality rating (FCQR) on the iShares 10+ Year Investment Grade Corporate Bond ETF (IGLB) and the iShares 0-5 Year Investment-Grade Corporate Bond ETF (SLQD), sponsored by BlackRock Inc. to 'BBB+f' from 'A-f'. At the same time, we affirmed our fund volatility rating (FVR) of 'S4' and 'S2', respectively, for both funds. The 'BBB+f' FCQR signifies that the credit quality of the funds' portfolio exposure is adequate. The rating actions reflect the ETFs' increased exposure to our 'BBB-' rated issuers. The IGLB and SLQD seek to track the investment results of an index composed of U.S. dollar-denominated investment-grade corporate bonds with remaining maturities greater

  
Brief Excerpt:

...October 13, 2021 AUSTIN (S&P Global Ratings) Oct. 13, 2021-- S&P Global Ratings today said it lowered its fund credit quality rating (FCQR) on the iShares 10+ Year Investment Grade Corporate Bond ETF (IGLB) and the iShares 0-5 Year Investment-Grade Corporate Bond ETF (SLQD), sponsored by BlackRock Inc. to '###+f' from 'A-f'. At the same time, we affirmed our fund volatility rating (FVR) of '##' and '##', respectively, for both funds. The '###+f' FCQR signifies that the credit quality of the funds' portfolio exposure is adequate. The rating actions reflect the ETFs' increased exposure to our '###-' rated issuers. The IGLB and SLQD seek to track the investment results of an index composed of U.S. dollar-denominated investment-grade corporate bonds with remaining maturities greater than 10 years and zero to five years, respectively. Over the past year, SPGR '###-' rated corporate issuance in the investment-grade space has continued to rise; as a result, the funds' benchmark index portfolio...

  
Report Type:

Ratings Action

Issuer
BlackRock Fund Advisors
Sector
Global Issuers
Country
United States
Region
United States
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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MLA:
S&P Global Ratings’ Credit Research. "The Credit Quality Rating Of Two iShares Bond ETFs Lowered To 'BBB+f'" Oct 13, 2021. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/The-Credit-Quality-Rating-Of-Two-iShares-Bond-ETFs-Lowered-To-BBB-f-2736851>
  
APA:
S&P Global Ratings’ Credit Research. (). The Credit Quality Rating Of Two iShares Bond ETFs Lowered To 'BBB+f' Oct 13, 2021. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/The-Credit-Quality-Rating-Of-Two-iShares-Bond-ETFs-Lowered-To-BBB-f-2736851>
  
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