Fitch Ratings has revised its ratings on seven money market funds to its highest score, following the launch of its new rating criteria and rating scale.

The funds, which were previously rated AAA/V1+, and one AAAV1, have had their ratings revised to AAAmmf, which is Fitch’s highest rating. Fitch said this reflects the funds’ more conservative investment profiles, portfolio liquidity and reduced risk during a period of heightened market uncertainty.

Fitch defines an AAAmmf-rated fund as having an “extremely strong capacity to achieve its investment objective of preserving principal and providing shareholder liquidity through limiting credit, market and liquidity risk.”

The seven upgraded funds are: Alpine Municipal Money Market Fund, Henderson Liquid Assets Sterling Fund, Ignis Asset Management Euro Liquidity Fund, Ignis Asset Management Sterling Liquidity Fund, Prime Rate Capital Management-Euro Liquidity Fund, Prime Rate Capital Management-Sterling Liquidity Fund and Prime Rate Capital Management-U.S. Dollar Liquidity Fund.

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