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

By Jennifer Chiou

New York, Sept. 18 - CDS IndexCo LLC and Markit Group Ltd. announced modifications of the companies on the CDX North America High Yield index, which is expected to roll on Oct. 6.

Companies to be removed include Allegheny Energy Supply Co., LLC, Mosaic Co., Freeport-McMoRan Copper & Gold Inc., Alltel Corp. and IKON Office Solutions, Inc.

Companies to be added include Boyd Gaming Corp., Louisiana-Pacific Corp., Radian Group Inc., Sprint Nextel Corp. and Tyson Foods, 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 over-the-counter derivatives trade processing to the financial markets.

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