Markit LCDX drops all Ford Motor loans due to dealer poll results

By Toni Weeks

San Diego, July 18 - Markit Group Ltd. said that all loans listed on the syndicated secured list for Ford Motor Co. were removed from the Markit LCDX index, having been voted off through a dealer poll.

According to a Markit notice, the 30-business-day window for suggesting substitute obligations ended at the close of business on Tuesday. New versions of the impacted Markit LCDX series have been issued with an annex date of July 17.

Cash settlement can occur after 10 business days on July 31.

Ford was also a constituent of Markit LCDX series 8. A new version will not be issued for that series, as all issued tenors have matured.

Ford is a Dearborn, Mich.-based manufacturer of packaging products for the food and beverage industry.

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