What is Investment-Grade Credit?
PIMCO’s Investment-Grade Credit strategy invests primarily in creditworthy corporate issuers having a debt rating of BBB- or greater by at least one of the recognized credit rating agencies or, if unrated, determined by PIMCO to be of comparable quality. The strategy utilizes a disciplined approach in the credit selection process, as issuer and industry decisions will contribute meaningfully to the performance of the product. In addition to corporate bonds, the credit universe includes investment-grade sovereign bonds, as well as supranational issuers. While macroeconomic strategies that influence sector and industry decisions are important, bottom-up security selection will most likely be the primary driver of long-term performance.