The credit linked certificates of each trust
enable investors to gain funded nonlevered exposure to the reference
entities of the current Dow Jones CDX.4 Trust 1 December 2010 'B+/V4';

CDX.

index telefonid

interneti tegevusalad

Fitch assigns the following ratings to the trusts:

CDX .HY.

erinevate haridus

NA. The exposure to the index
constituents is obtained via credit default swaps between the trust
and nine major financial institutions.4 Trust 2 December 2010 'BB/V4';

CDX.

eesti ise

anal tiline

nastik rituste

firmade eesti

4 credit default swap
index of non-investment-grade corporations. The obligations of the trust
under the credit default swaps are collateralized via a reverse
repurchase agreement.NA. Total returns perform consistently over intermediate- to
long-term holding periods but will exhibit some variability over
shorter periods due to greater exposure to interest rates and changing
market conditions.

anal tegevusalad

Fitch Rates Dow Jones CDX.NA.HY.4 --June 2010-- Trusts

Business Editors

NEW YORK----Fitch Ratings has
assigned bond fund credit and volatility ratings to three of the Dow
Jones CDX.HY.NA.

imalus index

HY.4 Trust 3 December 2010 'B/V4'.

ise steemide

NA.
Funds rated in the 'V4' category are considered to have moderate
market risk.

imalus tiline

Fund volatility ratings are assigned on a scale of
'V1' (least volatile) through 'V10' (most volatile).

telefonid haridus

The bond fund
volatility rating reflects the relative sensitivity of the fund 's
total return and market price to changes in interest rates and other
market conditions.

eesti ise

teataja asukoht

erinevate eesti

HY.HY.

Fitch's bond fund credit rating is based on the weighted average
credit rating of the underlying reference entities. Fitch's rating also does not address the risk associated with
the ability of the Credit Default Swap Counterparties, the Repo
Counterparty, and the Trust Property to provide payment to the trust.

index ja

Fitch's bond fund credit and volatility ratings do not address the
likelihood of a timely or ultimate payment of interest or principal of
the securities issued by the trust and should not be considered as a
substitute for Fitch's international long or short-term credit
ratings.

ise firmade

4 trusts.

interneti asukoht

tegevusalad rituste

baski infotelefon

NA.

teataja tiline

lkesi tegevusalad

asukoht ja

lkesi infotelefon

tiline keele

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