Đầu tư STIP được phân loại dưới đây để tiết lộ rủi ro tín dụng là 30 tháng 6 2009 và 30 tháng 6, 2008. Rủi ro tín dụng phản ánh sự đánh giá chất lượng bảo mật bằng hình thức đầu tư, như của tháng sáu báo cáo 30 ngày. | A-25 STATE OF MONTANA BOARD OF INVESTMENTS CONSOLIDATED UNIFIED INVESTMENT PROGRAM FINANICAL STATEMENT STIP investments are categorized below to disclose credit risk as of June 30 2009 and June 30 2008. Credit risk reflects the security quality rating by investment type as of the June 30 report date. If a security investment type is unrated the quality type is indicated by NR not rated . Although the STIP investments have been rated by investment security type STIP as an external investment pool has not been rated. STIP interest rate risk is determined using the weighted average maturity WAM method. The WAM measure expresses investment time horizons - the time when investments are due and payable in days months or years -weighted to reflect the dollar size of the individual investments within an investment type. The WAM calculated in days for the STIP portfolio is disclosed below. The June 30 2008 WAM previously stated in months has been restated in days. The WAM is not available for the SIV securities. STIP Credit Quality Ratings and Weighted Average Maturity as of June 30 2009 Security Investment Type Amortized Cost Credit Quality Rating WAM in Days Asset Backed Commercial Paper 299 326 610 A1 23 Corporate Commercial Paper 164 976 250 A1 16 Corporate Fixed 36 474 136 A3 196 Corporate Variable-Rate 364 248 333 A3 67 Certificates of Deposit Fixed 25 000 000 A1 360 Certificates of Deposit Variable-Rate 105 000 000 A1 62 . Government Agency Fixed 140 672 204 A1 73 . Government Agency Variable -Rate 750 530 748 A1 45 Money Market Funds Unrated 121 427 621 NR 1 Money Market Funds Rated 180 000 000 A1 1 Structured Investment Vehicles SIV 113 625 566 D NA Total Investments 2 301 281 468 A1 46 Securities Lending Collateral Investment Pool 151 016 485 NR 43 STIP Credit Quality Ratings and Weighted Average Maturity as of June 30 2008 Security Investment Type Commercial Paper Corporate Variable-Rate Certificates of Deposit . Government Agency Money Market Funds .
