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Florida Treasury Investment Pool Receives Continued Strong Ratings by S&P


CONTACT: Jerri Franz, 850-413-2842
TALLAHASSEE – The Florida Treasury Investment Pool today continued its record of strong ratings for both credit quality and volatility by the globally-recognized Standard & Poor’s Ratings Services.  The Florida Treasury Investment Pool continued to hold an ‘Af’ fund credit quality rating and ‘S2’ fund volatility rating, and these strong ratings were released publicly for the first time by Standards & Poor’s today.
“By publishing the Florida Treasury Investment Pool’s strong ratings, Standard & Poor’s has confirmed the continued strength of the investment pool and the high standard set by our state,” said Florida CFO Alex Sink, who oversees the Division of Treasury and approves the investment policies. “The strong ratings that the Florida Treasury Investment Pool has received for years prove the hard work and talent by our Division of Treasury, and I am proud to be a part of such a dedicated and successful team.”
The Florida Treasury Investment Pool has been privately rated by Standard & Poor’s since 2003 and has held the current ‘Af’ credit quality rating since August 2009 and ‘S2’ volatility rating since August 2005.  The ‘Af’ and ‘S2’ ratings mean that the Florida Treasury Investment Pool exhibits “strong protection against losses from credit defaults” and possesses “low to moderate sensitivity to changing market conditions”  according to Standards & Poor’s, one of the world’s leading independent credit rating services.
CFO Alex Sink oversees the Division of Treasury, which manages the Florida Treasury Investment Pool. The Florida Treasury Investment Pool includes both general revenue and trust funds in the Treasury and funds of organizations participating in the Treasury Special Purpose Investment Accounts (SPIA).  The investment strategies necessary to implement Florida statutory requirements are developed by the Treasury Investment Workgroup.  Investment policies are reviewed by the Treasury Investment Committee and approved by CFO Sink.
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