Markit adds six companies to its CDX investment-grade index at roll

By Jennifer Chiou

New York, Sept. 4 - Markit Group Ltd. announced the addition of six companies to its Markit CDX North America Investment Grade index, effective with the upcoming roll of the measure.

The companies include DirecTV Holdings LLC, GATX Corp., Johnson Controls, Inc., Kinder Morgan Energy Partners, LP, Reynolds American Inc. and UnitedHealth Group Inc.

As already announced, the companies recently removed from the index include CIT Group Inc., J.C. Penney Co., Inc., Macy's, Inc., Masco Corp. and Textron Financial Corp. after they no longer met the ratings criteria for the index.

On Thursday, Markit said that Weyerhauser Co. had been downgraded by Fitch Ratings and now no longer meets the ratings criteria for the index. Weyerhauser's long-term senior unsecured debt and issuer default ratings were lowered to BB+ from BBB-.

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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