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What types of commercial paper will be eligible for purchase by the SPV?

April 26, 2017Commercial eligible paper purchase SPV types

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What types of commercial paper will be eligible for purchase by the SPV?

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The SPV will purchase unsecured and asset-backed commercial paper (ABCP). The commercial paper must be rated at least A-1/P-1/F1 by a major nationally recognized statistical rating organization (NRSRO) and, if rated by multiple major NRSROs, must be rated at least A-1/P-1/F1 by two or more major NRSROs. The commercial paper must be U.S. dollar-denominated and have a three-month maturity.