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The
City of Houston General Investment Pool has been
recognized with the highest rating available from
Standard and Poor's Investment Services. The 'AAAf"
credit quality rating reflects the extremely strong
protection that the Pool's Portfolio Investment
provide against losses from credit defaults or
credit deterioration.
The
Pool was also awarded a'S1' volatility rating
in recognition of its low sensitivity to changing
market conditions and conservative investment
policies.
"These
ratings are representative of the care we take
to ensure taxpayer dollars are not put at risk.
Houston taxpayers can rest assured that we are
conservatively investing the millions of dollars
they entrust with us," said Judy Gray Johnson,
Houston City Controller.
Created
in 1979, the Pool is the city's largest operating
fund, averaging just under $2 billion annually.
It consists of working capital, construction,
and debt service funds.
The
Treasury Division of the City Controller's Office
is responsible for day-to-day management of the
Pool. The Pool is managed in a prudent manner
that is in keeping with the division's objectives
of safety of principal, liquidity, and investment
return. The end result is a highly diversified
portfolio of high creditworthy investments. The
typical investments are U.S. Treasury obligations,
highly rated Commercial Paper, collateralized
Certificates of Deposit, rated money market funds,
U.S. agency notes, and municipal securities.
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