Markit removes five companies from CDX investment-grade index

By Jennifer Chiou

New York, Sept. 3 - Markit Group Ltd. said it dropped five companies from its Markit CDX North America Investment Grade index after previously announcing that the companies no longer meet the ratings criteria for the index.

The companies are CIT Group Inc., J.C. Penney Co., Inc., Macy's, Inc., Masco Corp. and Textron Financial Corp.

Additions are expected to be announced shortly. As already noted, the coupon will be published Sept. 16, and roll trading will begin Sept. 21.

The Markit CDX dealers eligible to vote in the index roll are Barclays Capital Inc., BNP Paribas Securities Corp., Bank of America Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman, Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc., UBS Securities LLC and Wells Fargo/Wachovia.

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