Markit drops Black & Decker, Constellation Energy from CDX IG index

By Susanna Moon

Chicago, March 14 - Markit Group Ltd. provided a provisional list of changes for the sub-indexes with the upcoming roll of Markit CDX.NA.IG.18.

The companies to be removed are Black & Decker Corp. and Constellation Energy Group, Inc.

The companies to be added are Starwood Hotels & Resorts Worldwide, Inc. and Exelon Corp.

Markit also provided an updated list of changes for Markit CDX.NA.IG.18.

The merger between Constellation Energy and Exelon was completed on March 12, according to a Markit notice. Constellation Energy was expected to remain as a constituent of the upcoming Markit CDX.NA.IG.18 index but is being removed from the index due to the merger and is being replaced with Exelon.

Black & Decker was the subsequent liquidity-based removal, and Starwood Hotels was the liquidity-based addition.

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