BlackRock and State Street Global Advisors revise investment rules to retain their holdings of French bonds.

Jin10 data reported on October 21st that some of the world's largest asset management companies operating bond funds are changing their investment rules to avoid being forced to sell their holdings in French bonds. State Street's €1 billion fund and BlackRock's €289 million product have recently stopped using indices with strict AA credit rating standards as their Benchmark. According to informed sources, this allows them to maintain exposure to French debt, even as downgrades push France below the AA threshold. These preventive proactive adjustments have already begun to show results. S&P unexpectedly downgraded France's rating last Friday, which will force other funds with extremely strict investment standards to sell French assets.