Fitch Ratings Withdraws 'AAAmmf' Money Market Fund Rating for State Street Institutional Liquid Reserves Government Money Market Fund

Strategic Insights -

Fitch Ratings has withdrawn the 'AAAmmf' Money Market Fund Rating assigned to the State Street Institutional Liquid Reserves Government Money Market Fund, which was merged into the State Street Institutional U.S. Government Money Market Fund effective June 13, 2025. This withdrawal marks the end of Fitch's analytical coverage on the State Street Institutional Liquid Reserves Government Money Market Fund. The merger has led to the rating being withdrawn, and Fitch will no longer provide ratings or analytical coverage on the fund.

Key Takeaways:

  • The 'AAAmmf' Money Market Fund Rating has been withdrawn due to the merger of the State Street Institutional Liquid Reserves Government Money Market Fund into the State Street Institutional U.S. Government Money Market Fund.
  • The merger, effective June 13, 2025, marks the end of Fitch's analytical coverage on the State Street Institutional Liquid Reserves Government Money Market Fund.
  • Fitch will no longer provide ratings or analytical coverage on the State Street Institutional Liquid Reserves Government Money Market Fund.
  • Key Rating Drivers are not applicable since the rating has been withdrawn.
  • The rating withdrawal is a result of the merger and not a reflection on the fund's creditworthiness.
  • The State Street Institutional Liquid Reserves Government Money Market Fund has been absorbed into the State Street Institutional U.S. Government Money Market Fund, eliminating the need for a separate rating.
  • The merger has no impact on the State Street Institutional U.S. Government Money Market Fund's existing rating.

Statistics:

  • The State Street Institutional Liquid Reserves Government Money Market Fund was merged into the State Street Institutional U.S. Government Money Market Fund on June 13, 2025.
  • The rating has been withdrawn due to the merger.
  • The State Street Institutional Liquid Reserves Government Money Market Fund will no longer receive analytical coverage from Fitch.

Sources:

  • Fitch Ratings (2025, January 14). Withdrawal of 'AAAmmf' Money Market Fund Rating for State Street Institutional Liquid Reserves Government Money Market Fund.
  • Money Market Fund Rating Criteria (pub. 27 Jul 2024).
  • Fitch's rating definitions for each rating can be found at: https://www.fitchratings.com/rating-definitions-document.