The National Association of Securities Dealers has modified its rating content and guidelines to include the opinions of Fitch Ratings along with those of Moody’s Investors Service and Standard & Poor’s.

This change will affect the method of categorizing securities by investment-grade and non-investment grade status, under the NASD’s Trade Reporting and Compliance Engine (TRACE). TRACE is an NASD-developed vehicle that facilitates the mandatory reporting of over the counter secondary market transactions in eligible fixed income securities.

All broker-dealers who are NASD members have an obligation to report transactions in corporate bonds to TRACE under an SEC approved set of rules.

‘We are pleased by the NASD’s decision to include Fitch’s ratings in the TRACE System,’ said Peter Jordan, group managing director, Fitch Ratings. ‘The inclusion of our ratings is an acknowledgement of Fitch’s growing presence and acceptance across the entire fixed income market.’

Fitch ratings will be incorporated into the TRACE System as of Feb. 1, 2005.

The NASD is a private-sector regulator of the U.S. securities industry.