Statutes, codes, and regulations
California Code Of Regulations
Title 10 - InvestmentChapter 1 - Commissioner of Business Oversight, Division of Financial InstitutionsSubchapter 80 - Money TransmissionArticle 6 - Licensees
Subarticle 4 - Eligible Securities
Section 80.5304 - Eligible Ratings

Cal. Code Regs. tit. 10 § 80.5304

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Current through Register 2024 Notice Reg. No. 52, December 27, 2024
Section 80.5304 - Eligible Ratings

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.

Cal. Code Regs. Tit. 10, § 80.5304

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.

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).