CDS, Markit announce additions to CDX North America High Yield index

By Jennifer Chiou

New York, Sept. 11 - CDS IndexCo LLC and Markit Group Ltd. announced the addition of companies to the CDX NA High Yield index, which is expected to roll on Sept. 27.

Those companies include Alltel Corp., Community Health Systems, Inc., First Data Corp., Freeport-McMoRan Copper & Gold Inc., Realogy Corp., Residential Capital Corp. and Tribune Co.

On Sept. 6, the following companies were announced as removals from the high-yield index: Delhaize America, Inc., Huntsman International LLC, Lucent Technologies Inc., Parker Drilling Co., Reynolds American Inc., Solectron Corp. and Triad Hospitals, Inc.

The index is scheduled to roll every six months in order to rebalance the portfolio as necessary.

CDS IndexCo is a consortium of 16 investment banks, which are licensed as market makers in the CDX indexes. The market makers include ABN Amro, Bank of America, Barclays Capital, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, UBS and Wachovia.

Markit provides independent data, portfolio valuations and OTC derivatives trade processing to the financial markets.

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