Which of the following are qualifications that an issuer must meet to be eligibl

Question

Which of the following are qualifications that an issuer must meet to be eligible to use Rule 415 for shelf registration? I. issuer must have an investment grade rating Il. outstanding stock of the issuer must have a market value in excess of $250 million II. firm must not have violated the Securities Act of 1934 in the past three years IV. issuer must not have defaulted on any debt in the past five years O a.I, II, and IlIl only O b. II and IV only O C. I, II, I, and IV O d. II, III, and IV only O e. I and Ill only

Explanation / Answer

The correct option is

Option E

1st and 3rd option will be correct.

There is a Investment grade securities 'test which has to be passed by the issuer. By this way he the issuer gets the grade. This is compulsory. So this option is correct.

Further there should not be any 5 year poor past track record of default.

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