Memorandum - NAIC
PL stands for a private letter rating and refers to an insurer owned security that has been assigned a private rating by an NAIC CRP which rating is not publicly disseminated in the CRP’s data-feeds but is instead published in a letter provided by the CRP to the issuer of the security and to the insurer as an investor or that has subsequently been obtained by the insurer and submitted to the ... ................
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