Rating Release

Agusto & Co. hereby affirms the ‘Bbb+(f)’ rating assigned to GDL Money Market Fund.

The rating expires on 14 July 2027

Agusto & Co hereby affirms the ‘Bbb+(f)’ rating assigned to GDL Money Market Fund (‘GDL MMF’ or ‘the Fund’). The rating is upheld by GDL MMF’s improved asset allocation, with lower exposure to securities we consider to have moderate credit risk and support from a growing financial services group. The rating also reflects the Fund’s continued low exposure to liquidity risk. The rating, however, is constrained by breaches of regulatory guidelines that occurred during the review period. We have also taken into consideration the limited functionality of the current software to automate pre-trade checks.