Dec. 13, 2017, S&P Global Ratings affirmed its 'AAAf' fund credit quality rating (FCQR) and 'S1+' fund volatility
rating (FVR) on the Contra Costa County Investment Pool. The affirmation
follows a review of the fund under the revised FCQR and FVR criteria (see
"Fund Credit Quality Ratings Methodology" and "Fund Volatility Ratings
Methodology," published June 26, 2017). The County's Investment Pool has maintained such ratings since November 19, 2007.
Costa County Investment Pool is invested in accordance with the county's
investment policy and the State of California's government code. Based on these guidelines, the pool is
generally invested in U.S. Treasuries, U.S. agencies, municipal bonds,
money-market instruments, repurchase agreements, banker's acceptances,
commercial paper, negotiable certificates of deposit, corporate notes,
medium-term notes, and time deposits.
signifies that the credit quality of the fund's portfolio exposure is
extremely strong. The 'S1+'
signifies that the fund exhibits extremely low volatility of returns
comparable to a portfolio of short-duration government securities representing
the highest-quality fixed-income instruments available in each country or
currency zone with a maturity of 12 months or less.