Common use of Single Issuer Concentration Clause in Contracts

Single Issuer Concentration. 1. Municipal For purposes of identifying single issuers, the first six digits of the municipal security's cusip will be Obligations considered the issuer identifier. It is possible that the six digit cusip may represent a conduit rather than issued by any one the true issuer. Therefore, if any issuer exceeds the set limit, SSFA will research the true issuer on issuer and rated Bloomberg and notify Federated. Ba or lower by Moody's or not rated by Moody's may comprise no more than 4% of total Moody's Eligible Assets.

Single Issuer Concentration. 1. Municipal For purposes of identifying single issuers, the first six digits of the municipal security's cusip will be Obligations considered the issuer identifier. It is possible that the six digit cusip may represent a conduit rather than issued by any one the true issuer. Therefore, if any issuer exceeds the set limit, SSFA will research the true issuer on issuer and rated Bloomberg and notify Federated. Ba BB or lower by Moody's lower, or not rated by Moody's rated, may comprise no more than 4% of total Moody's Fitch Eligible Assets.