UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

OMB APPROVAL

 

OMB Number:    3235-0578
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FORM N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number

811-5399

 

 

The New America High Income Fund, Inc.

(Exact name of registrant as specified in charter)

 

33 Broad Street, Boston, MA

 

02109

(Address of principal executive offices)

 

(Zip code)

 

Ellen E. Terry, 33 Broad Street, Boston MA 02109

(Name and address of agent for service)

 

Registrant's telephone number, including area code:

(617) 263-6400

 

 

Date of fiscal year end:

12/31

 

 

 

 

Date of reporting period:

7/1/06 - 9/30/06

 

 



 

Item 1 - Schedule of Investments - September 30, 2006 (Unaudited) (Dollar Amounts in Thousands)

 



 

Principal

 

 

 

Moody’s

 

Value

 

Amount/Units

 

 

 

Rating

 

(Note 1)

 

 

 

 

 

(Unaudited)

 

 

 

CORPORATE DEBT SECURITIES - 153.78% (d)

 

 

 

 

 

Aerospace and Defense - 3.24%

 

 

 

 

 

1,100

 

BE Aerospace, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

8.875%, 05/01/11

 

B3

 

1,141

 

325

 

Evergreen International Aviation, Inc., Senior Secured Notes,

 

 

 

 

 

 

 

12%, 05/15/10

 

Caa1

 

349

 

1,625

 

GenCorp Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

9.50%, 08/15/13

 

Caa1

 

1,686

 

1,225

 

L3 Communications Corp., Senior Subordinated Notes,

 

 

 

 

 

 

 

6.375%, 10/15/15

 

Ba3

 

1,194

 

775

 

Moog, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

6.25%, 01/15/15

 

Ba3

 

744

 

600

 

Sequa Corporation, Senior Notes,

 

 

 

 

 

 

 

9%, 08/01/09

 

B1

 

637

 

825

 

TransDigm Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

7.75%, 07/15/14 (g)

 

B3

 

839

 

 

 

 

 

 

 

6,590

 

Automobile - 10.75%

 

 

 

 

 

800

 

Accuride Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

8.50%, 02/01/15

 

B3

 

744

 

800

 

ADESA, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

7.625%, 06/15/12

 

B1

 

788

 

1,600

 

Ford Motor Credit Company, Senior Notes,

 

 

 

 

 

 

 

9.875%, 08/10/11

 

B1

 

1,656

 

4,350

 

Ford Motor Credit Company, Senior Notes,

 

 

 

 

 

 

 

9.957% 04/15/12

 

B1

 

4,557

 

1,675

 

General Motors Acceptance Corporation, Senior Notes,

 

 

 

 

 

 

 

6.75%, 12/01/14

 

Ba1

 

1,645

 

6,425

 

General Motors Acceptance Corporation, Senior Notes,

 

 

 

 

 

 

 

8%, 11/01/31

 

Ba1

 

6,762

 

1,675

 

General Motors Nova Scotia Finance Company, Senior Notes,

 

 

 

 

 

 

 

6.85%, 10/15/08

 

Caa1

 

1,637

 

850

 

The Goodyear Tire & Rubber Company, Senior Notes,

 

 

 

 

 

 

 

7.857%, 08/15/11

 

B3

 

829

 

500

 

Hawk Corporation, Senior Notes,

 

 

 

 

 

 

 

8.75%, 11/01/14

 

B3

 

496

 

825

 

H&E Equipment Services, Inc., Senior Notes,

 

 

 

 

 

 

 

8.375%, 07/15/16 (g)

 

B3

 

846

 

775

 

Insurance Auto Auctions, Inc., Senior Notes,

 

 

 

 

 

 

 

11%, 04/01/13

 

Caa1

 

771

 

325

 

Lear Corporation, Senior Notes,

 

 

 

 

 

 

 

8.11%, 05/15/09

 

B3

 

315

 

800

 

Tenneco Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

8.625%, 11/15/14

 

B3

 

794

 

 

 

 

 

 

 

21,840

 

Beverage, Food and Tobacco - 3.12%

 

 

 

 

 

925

 

B&G Foods, Inc., Senior Notes,

 

 

 

 

 

 

 

8%, 10/01/11

 

B1

 

946

 

1,025

 

Del Monte Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

8.625%, 12/15/12

 

B2

 

1,076

 

325

 

Dole Food Company, Inc., Senior Notes

 

 

 

 

 

 

 

8.875%, 03/15/11

 

B3

 

312

 

700

 

Le-Nature’s, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

10.00%, 06/15/13 (g.)

 

B3

 

721

 

425

 

NPI Merger Corporation, Senior Notes,

 

 

 

 

 

 

 

9.23% 10/15/13 (g)

 

B3

 

439

 

775

 

NPI Merger Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

10.75%, 04/15/14 (g)

 

Caa1

 

829

 

1,050

 

Reynolds American, Inc., Senior Notes,

 

 

 

 

 

 

 

7.25%, 06/01/13 (g)

 

Ba3

 

1,076

 

375

 

Reynolds American, Inc., Senior Notes,

 

 

 

 

 

 

 

7.625%, 6/01/16 (g)

 

Ba3

 

391

 

550

 

Wornick Company, Senior Secured Notes,

 

 

 

 

 

 

 

10.875%, 07/15/11

 

B2

 

547

 

 

 

 

 

 

 

6,337

 

Broadcasting and Entertainment - 13.09%

 

 

 

 

 

1,650

 

Allbritton Communications Company, Senior

 

 

 

 

 

 

 

Subordinated Notes, 7.75%, 12/15/12

 

B1

 

1,671

 

300

 

AMC Entertainment, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

8%, 03/01/14

 

B3

 

282

 

1,350

 

AMC Entertainment, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

11%, 02/01/16

 

B3

 

1,475

 

425

 

Canadian Satellite Radio, Senior Notes,

 

 

 

 

 

 

 

12.75%, 02/15/14

 

(e)

 

421

 

2,475

 

Charter Communications Operating, LLC, Senior Secured Notes,

 

 

 

 

 

 

 

8%, 04/30/12 (g)

 

B3

 

2,494

 

250

 

Cinemark, Inc., Senior Discount Notes, 9.75%,

 

 

 

 

 

 

 

03/15/14 (b(g.)

 

B3

 

200

 

2,125

 

Cinemark, Inc., Senior Discount Notes, 9.75%,

 

 

 

 

 

 

 

03/15/14 (b)

 

B3

 

1,700

 

775

 

Cinemark USA, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

9%, 02/01/13

 

B2

 

810

 

1,000

 

CSC Holdings, Inc., Senior Notes,

 

 

 

 

 

 

 

7.25%, 07/15/08

 

B2

 

1,012

 

1,675

 

DIRECTV Holdings, LLC, Senior Notes,

 

 

 

 

 

 

 

6.375%, 06/15/15

 

Ba3

 

1,591

 

503

 

DIRECTV Holdings, LLC, Senior Notes,

 

 

 

 

 

 

 

8.375%, 03/15/13

 

Ba3

 

523

 

500

 

EchoStar DBS Corporation, Senior Notes,

 

 

 

 

 

 

 

6.625%, 10/01/14

 

Ba3

 

478

 

775

 

EchoStar DBS Corporation, Senior Notes,

 

 

 

 

 

 

 

7%, 10/01/13 (g)

 

Ba3

 

760

 

225

 

Fisher Communications, Inc., Senior Notes,

 

 

 

 

 

 

 

8.625%, 09/15/14

 

B2

 

233

 

850

 

Gray Television, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

9.25%, 12/15/11

 

B1

 

893

 

375

 

Insight Midwest, L.P., Senior Notes,

 

 

 

 

 

 

 

9.75%, 10/01/09

 

B2

 

382

 

750

 

Insight Midwest, L.P., Senior Notes,

 

 

 

 

 

 

 

10.50%, 11/01/10

 

B2

 

778

 

500

 

Intelsat Subsidiary Holding Company, Senior Notes,

 

 

 

 

 

 

 

8.25%, 01/15/13

 

B2

 

507

 

800

 

Intelsat Subsidiary Holding Company, Senior Notes,

 

 

 

 

 

 

 

10.484%, 01/15/12

 

B2

 

810

 

475

 

Kabel Deutschland GmbH, Senior Notes,

 

 

 

 

 

 

 

10.625%, 07/01/14 (g)

 

B2

 

511

 

1,325

 

Liberty Media Corporation, Senior Notes,

 

 

 

 

 

 

 

4%, 11/15/29

 

Ba2

 

885

 

1,200

 

Nexstar Holdings, Inc., Senior Notes,

 

 

 

 

 

 

 

11.375%, 04/01/13 (b)

 

B3

 

1,008

 

625

 

Nexstar Broadcasting, Inc., Senior Subordinated Notes

 

 

 

 

 

 

 

7%, 01/15/14

 

B2

 

576

 

924

 

Panamsat Corp., Senior Notes,

 

 

 

 

 

 

 

9%, 08/15/14

 

B2

 

956

 

250

 

Rainbow National Services LLC, Senior Notes,

 

 

 

 

 

 

 

8.75%, 09/01/12 (g)

 

B2

 

268

 

850

 

Rogers Cable Inc., Senior Secured Notes,

 

 

 

 

 

 

 

6.75%, 03/15/15

 

Ba2

 

854

 

300

 

Shaw Communications, Inc., Senior Notes,

 

 

 

 

 

 

 

8.25%, 04/11/10

 

Ba2

 

317

 

 



 

950

 

Sinclair Broadcast Group, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

8%, 03/15/12

 

Ba3

 

964

 

1,075

 

Sinclair Broadcast Group, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

8.75%, 12/15/11

 

Ba3

 

1,127

 

875

 

Sirius Satellite Radio, Inc., Senior Notes,

 

 

 

 

 

 

 

9.625%, 08/01/13

 

Caa1

 

857

 

250

 

Videotron Ltee., Senior Notes,

 

 

 

 

 

 

 

6.375%, 12/15/15

 

Ba2

 

238

 

825

 

Videotron Ltee., Senior Notes,

 

 

 

 

 

 

 

6.875%, 01/15/14

 

Ba2

 

815

 

200

 

XM Satellite Radio, Inc., Senior Notes

 

 

 

 

 

 

 

9.75%, 5/01/14 (g)

 

Caa1

 

194

 

 

 

 

 

 

 

26,590

 

Building and Real Estate - 3.16%

 

 

 

 

 

825

 

Abitibi-Consolidated, Inc., Senior Notes,

 

 

 

 

 

 

 

8.55%, 08/01/10

 

B2

 

819

 

625

 

B.F. Saul Real Estate Investment Trust, Senior Secured Notes,

 

 

 

 

 

 

 

7.50%, 03/01/14

 

B2

 

627

 

1,250

 

Building Materials Corporation of America, Senior Notes,

 

 

 

 

 

 

 

7.75%, 08/01/14

 

B3

 

1,119

 

1,050

 

Collins & Aikman Floorcoverings, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

9.75%, 02/15/10

 

B3

 

1,047

 

75

 

FelCor Lodging Limited Partnership, Senior Notes,

 

 

 

 

 

 

 

9.00%, 06/01/11

 

Ba3

 

80

 

275

 

FelCor Lodging Limited Partnership, Senior Notes,

 

 

 

 

 

 

 

9.57%, 06/01/11

 

Ba3

 

282

 

504

 

Mobile Mini, Inc., Senior Notes,

 

 

 

 

 

 

 

9.50%, 07/01/13

 

B1

 

539

 

100

 

Norcraft Companies, L.P., Senior Subordinated Notes,

 

 

 

 

 

 

 

9%, 11/01/11

 

B1

 

102

 

125

 

Norcraft Holding Companies, L.P., Senior Discount Notes,

 

 

 

 

 

 

 

9.75%, 09/01/12 (b)

 

B3

 

101

 

875

 

Texas Industries, Inc., Senior Notes,

 

 

 

 

 

 

 

7.25%, 07/15/13

 

Ba3

 

875

 

500

 

Ventas Realty, Limited Partnership, Senior Notes,

 

 

 

 

 

 

 

6.50%, 06/01/16

 

Ba2

 

496

 

325

 

Ventas Realty, Limited Partnership, Senior Notes,

 

 

 

 

 

 

 

6.75%, 06/01/10

 

Ba2

 

330

 

 

 

 

 

 

 

6,417

 

Cargo Transport - .60%

 

 

 

 

 

725

 

American Commercial Lines LLC, Senior Notes,

 

 

 

 

 

 

 

9.50%, 02/15/15

 

B3

 

788

 

400

 

TFM, S.A. de C.V., Senior Notes,

 

 

 

 

 

 

 

9.375%, 05/01/12

 

B3

 

423

 

 

 

 

 

 

 

1,211

 

Chemicals, Plastics and Rubber - 4.58%

 

 

 

 

 

1,490

 

BCP Caylux Holdings Luxembourg S.C.A., Senior Subordinated Notes,

 

 

 

 

 

 

 

9.625%, 06/15/14

 

B3

 

1,613

 

174

 

Crystal US Holdings 3 LLC, Senior Discount Notes,

 

 

 

 

 

 

 

10%, 10/01/14 (b)

 

B3

 

141

 

475

 

Ethyl Corporation, Senior Notes,

 

 

 

 

 

 

 

8.875%, 05/01/10

 

B2

 

492

 

425

 

Freeport McMoran Resources, Senior Notes,

 

 

 

 

 

 

 

7%, 02/15/08

 

B2

 

427

 

425

 

Hercules, Incorporated, Senior Subordinated Notes,

 

 

 

 

 

 

 

6.75%, 10/15/29

 

Ba3

 

406

 

959

 

Huntsman LLC, Senior Secured Notes,

 

 

 

 

 

 

 

11.625%, 10/15/10

 

Ba3

 

1,061

 

1,225

 

Invista, Units,

 

 

 

 

 

 

 

9.25%, 05/01/12 (g)

 

B1

 

1,302

 

853

 

Koppers Inc., Senior Secured Notes,

 

 

 

 

 

 

 

9.875%, 10/15/13

 

B2

 

927

 

1,675

 

Nell AF S.a.r.l. Senior Notes,

 

 

 

 

 

 

 

8.375%, 08/15/15 (g)

 

B2

 

1,662

 

525

 

PolyOne Corporation, Senior Notes,

 

 

 

 

 

 

 

10.625%, 05/15/10

 

B2

 

566

 

213

 

Rockwood Specialties Group, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

10.625%, 05/15/11

 

B3

 

228

 

200

 

VWR International, Inc., Senior Notes,

 

 

 

 

 

 

 

6.875%, 04/15/12

 

B3

 

199

 

275

 

VWR International, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

8%, 04/15/14

 

Caa1

 

277

 

 

 

 

 

 

 

9,301

 

Containers, Packaging and Glass - 8.25%

 

 

 

 

 

650

 

Ball Corporation, Senior Notes,

 

 

 

 

 

 

 

6.875%, 12/15/12.

 

Ba2

 

657

 

575

 

Berry Plastics Holding Corporation, Senior Secured Notes,

 

 

 

 

 

 

 

8.875%, 09/15/14 (g)

 

B2

 

578

 

350

 

Berry Plastics Holding Corporation, Senior Secured Notes,

 

 

 

 

 

 

 

9.265%, 09/15/14 (g)

 

B2

 

352

 

950

 

Boise Cascade, LLC, Senior Subordinated, Notes,

 

 

 

 

 

 

 

7.125%, 10/15/14

 

B2

 

893

 

775

 

BWAY Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

10%, 10/15/10

 

B3

 

813

 

525

 

Covalence Specialty Materials Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

10.25%, 03/01/16 (g)

 

B3

 

509

 

275

 

Domtar Inc., Senior Notes,

 

 

 

 

 

 

 

5.375%, 12/01/13

 

B2

 

234

 

525

 

Domtar Inc., Senior Notes,

 

 

 

 

 

 

 

7.875%, 10/15/11

 

B2

 

522

 

100

 

Domtar Inc., Senior Notes,

 

 

 

 

 

 

 

9.50%, 08/01/16

 

B2

 

105

 

200

 

Georgia Pacific Corporation, Senior Notes,

 

 

 

 

 

 

 

7.70%, 06/15/15

 

B2

 

201

 

500

 

Georgia Pacific Corporation, Senior Notes,

 

 

 

 

 

 

 

8.125%, 05/15/11

 

B2

 

516

 

450

 

Graphic Packaging International Inc., Senior Notes,

 

 

 

 

 

 

 

8.50%, 08/15/11

 

B2

 

461

 

325

 

Graphic Packaging International Inc., Senior Subordinated, Notes,

 

 

 

 

 

 

 

9.50%, 08/15/13

 

B3

 

334

 

175

 

Graham Packaging Company, Senior Notes,

 

 

 

 

 

 

 

8.50%, 10/15/12

 

Caa1

 

173

 

350

 

Greif Brothers Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

8.875%, 08/01/12

 

Ba3

 

368

 

700

 

Jefferson Smurfit Corporation, (U.S.) Senior Notes,

 

 

 

 

 

 

 

7.50%, 06/01/13

 

B2

 

646

 

350

 

JSG Funding, PLC, Senior Subordinated Notes,

 

 

 

 

 

 

 

7.75%, 04/01/15

 

Caa1

 

329

 

1,410

 

MDP Acquisitions Plc, Senior Notes,

 

 

 

 

 

 

 

9.625%, 10/01/12

 

B3

 

1,498

 

125

 

NewPage Corporation, Senior Secured Notes,

 

 

 

 

 

 

 

10%, 05/01/12

 

B3

 

130

 

625

 

NewPage Corporation, Senior Secured Notes,

 

 

 

 

 

 

 

11.739%, 05/01/12

 

B3

 

675

 

475

 

NewPage Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

12%, 05/01/13

 

Caa1

 

492

 

650

 

Norske Skog Canada Ltd., Senior Notes

 

 

 

 

 

 

 

7.375%, 03/01/14

 

B2

 

598

 

650

 

Owens-Brockway Glass Container, Inc., Senior Notes,

 

 

 

 

 

 

 

8.25%, 05/15/13

 

B3

 

665

 

1,175

 

Owens-Brockway Glass Container, Inc., Senior Secured Notes,

 

 

 

 

 

 

 

8.75%, 11/15/12

 

Ba2

 

1,243

 

 



 

1,225

 

Owens-Brockway Glass Container, Inc., Senior Secured Notes,

 

 

 

 

 

 

 

8.875%, 02/15/09

 

Ba2

 

1,260

 

375

 

Silgan Holdings Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

6.75%, 11/15/13

 

B1

 

367

 

325

 

Stone Container Corporation, Senior Notes,

 

 

 

 

 

 

 

8.375%, 07/01/12

 

B2

 

314

 

86

 

Stone Container Corporation, Senior Notes,

 

 

 

 

 

 

 

9.75%, 02/01/11

 

B2

 

89

 

625

 

Stone Container Finance Company of Canada, Senior Notes,

 

 

 

 

 

 

 

7.375%, 07/15/14

 

B2

 

570

 

350

 

Verso Paper Holdings, LLC, Senior Notes,

 

 

 

 

 

 

 

9.125%, 08/01/14 (g)

 

B2

 

352

 

175

 

Verso Paper Holdings, LLC, Senior Notes,

 

 

 

 

 

 

 

9.239%, 08/01/14 (g)

 

B2

 

177

 

650

 

Verso Paper Holdings, LLC, Senior Subordinated Notes,

 

 

 

 

 

 

 

11.375%, 08/01/16 (g)

 

B3

 

646

 

 

 

 

 

 

 

16,767

 

Diversified/Conglomerate Manufacturing - 2.73%

 

 

 

 

 

625

 

Bombardier Inc., Senior Notes,

 

 

 

 

 

 

 

6.30%, 05/1/14 (g)

 

Ba2

 

564

 

2,375

 

Bombardier Inc., Senior Notes,

 

 

 

 

 

 

 

6.75%, 05/01/12 (g)

 

Ba2

 

2,268

 

850

 

Case New Holland Inc., Senior Notes,

 

 

 

 

 

 

 

9.25%, 08/01/11

 

Ba3

 

901

 

175

 

Manitowoc Company, Inc., Senior Notes,

 

 

 

 

 

 

 

7.125%, 11/01/13

 

Ba3

 

173

 

1,625

 

RBS Global, Inc., Senior Notes,

 

 

 

 

 

 

 

9.50%, 08/01/14 (g)

 

B3

 

1,649

 

 

 

 

 

 

 

5,555

 

Diversified/Conglomerate Service - 5.42%

 

 

 

 

 

1,525

 

Brand Services, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

12%, 10/15/12

 

Caa1

 

1,708

 

1,225

 

The Brickman Group, Ltd., Senior Subordinated Notes,

 

 

 

 

 

 

 

11.75%, 12/15/09

 

Ba3

 

1,308

 

2,100

 

Education Management, LLC, Senior Subordinated Notes,

 

 

 

 

 

 

 

10.25%, 06/01/16 (g)

 

Caa1

 

2,153

 

1,000

 

Hertz Corporation, Senior Notes,

 

 

 

 

 

 

 

8.875%, 01/01/14 (g)

 

B1

 

1,045

 

750

 

Hertz Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

10.50%, 01/01/16 (g)

 

B2

 

825

 

725

 

IKON Office Solutions, Inc., Senior Notes,

 

 

 

 

 

 

 

7.75%, 09/15/15

 

Ba3

 

743

 

550

 

Interline Brands, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

8.125%, 06/15/14

 

B3

 

556

 

910

 

Invensys plc, Senior Notes,

 

 

 

 

 

 

 

9.875%, 03/15/11 (g)

 

B2

 

987

 

750

 

Neff Rental LLC, Senior Notes,

 

 

 

 

 

 

 

11.25%, 06/15/12 (g)

 

Caa1

 

810

 

850

 

Sunstate Equipment Co, LLC, Senior Secured Notes,

 

 

 

 

 

 

 

10.50%, 04/01/13 (g)

 

B3

 

883

 

 

 

 

 

 

 

11,018

 

Ecological - 1.31%

 

 

 

 

 

100

 

Allied Waste North America, Inc., Senior Secured Notes,

 

 

 

 

 

 

 

9.25%, 09/01/12

 

B2

 

107

 

1,875

 

Casella Waste Systems, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

9.75%, 02/01/13

 

B3

 

1,964

 

575

 

WCA Waste Corporation, Senior Notes,

 

 

 

 

 

 

 

9.25%, 06/15/14 (g)

 

B3

 

597

 

 

 

 

 

 

 

2,668

 

Electronics - 7.23%

 

 

 

 

 

825

 

Celestica Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

7.875%, 07/01/11

 

B2

 

827

 

675

 

Dycom Investments, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

8.125%, 10/15/15

 

Ba3

 

687

 

750

 

General Cable Corporation, Senior Notes,

 

 

 

 

 

 

 

9.50%, 11/15/10

 

B2

 

803

 

900

 

iPayment, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

9.75%, 05/15/14 (g)

 

Caa1

 

917

 

1,125

 

Nortel Networks, Ltd., Senior Notes,

 

 

 

 

 

 

 

9.73%, 07/15/11 (g)

 

B3

 

1,159

 

350

 

Serena Software, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

10.375%, 03/15/16

 

Caa1

 

368

 

550

 

Spansion Technology, Inc., Senior Notes,

 

 

 

 

 

 

 

11.25%, 01/15/16 (g)

 

Caa1

 

577

 

300

 

SS&C Technologies, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

11.75%, 12/01/13

 

Caa1

 

319

 

350

 

STATS ChipPAC Ltd., Senior Notes,

 

 

 

 

 

 

 

6.75%, 11/15/11

 

Ba2

 

335

 

325

 

STATS ChipPAC Ltd., Senior Notes,

 

 

 

 

 

 

 

7.50%, 07/19/10

 

Ba2

 

323

 

2,250

 

Sunguard Data Systems, Inc., Senior Notes,

 

 

 

 

 

 

 

9.125%, 08/15/13

 

Caa1

 

2,332

 

475

 

Superior Essex Communications, Senior Notes,

 

 

 

 

 

 

 

9%, 04/15/12

 

B3

 

486

 

975

 

UGS Capital Corporation, II, Senior Notes,

 

 

 

 

 

 

 

10.38%, 06/01/11 (g)(i)

 

Caa1

 

990

 

1,050

 

UGS Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

10%, 06/01/12

 

B3

 

1,139

 

325

 

Unisys Corporation, Senior Notes,

 

 

 

 

 

 

 

6.875%, 03/15/10

 

B2

 

309

 

425

 

Unisys Corporation, Senior Notes,

 

 

 

 

 

 

 

7.875%, 04/01/08

 

B2

 

424

 

250

 

Unisys Corporation, Senior Notes,

 

 

 

 

 

 

 

8%, 10/15/12

 

B2

 

234

 

900

 

Xerox Corp., Senior Notes,

 

 

 

 

 

 

 

6.40%, 03/15/16

 

Ba1

 

895

 

1,200

 

Xerox Corp., Senior Notes,

 

 

 

 

 

 

 

6.75%, 02/01/17

 

Ba1

 

1,224

 

325

 

Xerox Corp., Senior Notes,

 

 

 

 

 

 

 

7.625%, 06/15/13

 

Ba1

 

342

 

 

 

 

 

 

 

14,690

 

Farming and Agriculture - .91%

 

 

 

 

 

150

 

IMC Global Inc., Senior Notes,

 

 

 

 

 

 

 

10.875%, 06/01/08

 

Ba3

 

159

 

125

 

IMC Global Inc., Senior Notes,

 

 

 

 

 

 

 

10.875%, 08/01/13

 

Ba3

 

139

 

700

 

IMC Global Inc., Senior Notes,

 

 

 

 

 

 

 

11.25%, 06/01/11

 

Ba3

 

737

 

750

 

Terra Capital, Inc., Senior Notes,

 

 

 

 

 

 

 

11.50%, 06/01/10

 

B2

 

812

 

 

 

 

 

 

 

1,847

 

Finance - 1.35%

 

 

 

 

 

1,015

 

Global Cash Access Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

8.75%, 03/15/12

 

B3

 

1,066

 

1,100

 

Leucadia National Corporation, Senior Notes,

 

 

 

 

 

 

 

7%, 08/15/13

 

Ba2

 

1,092

 

575

 

Mobile Services Group, Inc., Senior Notes,

 

 

 

 

 

 

 

9.75%, 08/01/14 (g)

 

B3

 

586

 

 

 

 

 

 

 

2,744

 

 



 

Furnishings, Housewares, Durable Consumer Products - 1.14%

 

 

 

 

 

1,050

 

Sealy Mattress Company, Senior Subordinated Notes,

 

 

 

 

 

 

 

8.25%, 06/15/14

 

B2

 

1,078

 

1,025

 

Simmons Company, Senior Discount Notes,

 

 

 

 

 

 

 

10%, 12/15/14 (b)

 

Caa1

 

746

 

500

 

Simmons Company, Senior Subordinated Notes,

 

 

 

 

 

 

 

7.875%, 01/15/14

 

B3

 

488

 

 

 

 

 

 

 

2,312

 

Grocery - .40%

 

 

 

 

 

850

 

Pathmark Stores, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

8.75%, 02/01/12

 

Caa2

 

818

 

 

 

 

 

 

 

 

 

Healthcare, Education and Childcare - 6.56%

 

 

 

 

 

700

 

Biovail Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

7.875%, 04/01/10

 

B1

 

698

 

375

 

Community Health Systems, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

6.50%, 12/15/12

 

B2

 

359

 

1,425

 

Concentra Operating Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

9.50%, 08/15/10

 

B3

 

1,482

 

625

 

CRC Health Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

10.75%, 02/01/16

 

Caa1

 

652

 

600

 

DaVita, Inc., Senior Notes,

 

 

 

 

 

 

 

6.625%, 03/15/13

 

B2

 

586

 

550

 

DaVita, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

7.25%, 03/15/15

 

B3

 

540

 

1,400

 

Fisher Scientific International Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

6.125%, 07/01/15

 

Ba2

 

1,389

 

575

 

Fresenius Medical Care Capital Trust IV,

 

 

 

 

 

 

 

7.875%, 06/15/11

 

B1

 

590

 

1,125

 

Genesis Healthcare Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

8%, 10/15/13

 

B1

 

1,177

 

1,400

 

HCA Inc., Senior Notes,

 

 

 

 

 

 

 

8.75%, 09/01/10

 

Ba2

 

1,417

 

350

 

Omnicare, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

6.75%, 12/15/13

 

Ba2

 

342

 

450

 

Omnicare, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

6.875%, 12/15/15

 

Ba2

 

438

 

725

 

Team Health, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

11.25%, 12/01/13

 

Caa1

 

747

 

825

 

Triad Hospitals, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

7%, 11/15/13

 

B2

 

800

 

850

 

US Oncology, Inc., Senior Notes,

 

 

 

 

 

 

 

9%, 08/15/12

 

B2

 

882

 

725

 

Vanguard Health Holding Company II, LLC, Senior Subordinated Notes,

 

 

 

 

 

 

 

9%, 10/01/14

 

Caa1

 

703

 

500

 

Warner Chilcott Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

8.75%, 02/01/15

 

Caa1

 

516

 

 

 

 

 

 

 

13,318

 

Hotels, Motels, Inns and Gaming - 8.28%

 

 

 

 

 

1,025

 

American Casino & Entertainment Properties LLC, Senior Secured Notes,

 

 

 

 

 

 

 

7.85%, 02/01/12

 

Ba3

 

1,045

 

25

 

Boyd Gaming Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

8.75%, 04/15/12

 

Ba3

 

26

 

475

 

Chukchansi Economic Development Authority, Senior Notes,

 

 

 

 

 

 

 

8.78%, 11/15/12 (g)

 

B2

 

490

 

100

 

Host Marriott, L.P., Senior Notes,

 

 

 

 

 

 

 

6.375%, 03/15/15

 

Ba2

 

96

 

2,400

 

Host Marriott, L.P., Senior Notes,

 

 

 

 

 

 

 

6.75%, 06/01/16

 

Ba2

 

2,364

 

550

 

Host Marriott, L.P., Senior Notes,

 

 

 

 

 

 

 

7.125%, 11/01/13

 

Ba2

 

558

 

525

 

Little Traverse Bay Bands of Odawa Indians, Senior Notes,

 

 

 

 

 

 

 

10.25%, 02/15/14 (g)

 

B2

 

524

 

650

 

Majestic Star Casino, LLC, Senior Notes,

 

 

 

 

 

 

 

9.75%, 01/15/11

 

Caa1

 

621

 

1,500

 

MGM MIRAGE, Senior Notes,

 

 

 

 

 

 

 

8.50%, 09/15/10

 

Ba2

 

1,601

 

275

 

MGM MIRAGE, Senior Notes,

 

 

 

 

 

 

 

9.75%, 06/01/07

 

Ba3

 

282

 

1,525

 

MGM MIRAGE, Senior Subordinated Notes,

 

 

 

 

 

 

 

8.375%, 02/01/11

 

Ba3

 

1,590

 

1,100

 

Mohegan Tribal Gaming Authority, Senior Subordinated Notes,

 

 

 

 

 

 

 

8%, 04/01/12

 

Ba2

 

1,140

 

225

 

MTR Gaming Group, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

9%, 06/01/12 (g)

 

B3

 

227

 

925

 

Penn National Gaming, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

6.75%, 03/01/15

 

B1

 

904

 

900

 

Pokagon Gaming Authority, Senior Notes,

 

 

 

 

 

 

 

10.375%, 06/15/14 (g)

 

B3

 

960

 

975

 

Poster Financial group, Inc., Senior Notes,

 

 

 

 

 

 

 

8.75%, 12/01/11

 

B2

 

1,018

 

75

 

Resorts International Hotel and Casino, Inc., Senior Notes,

 

 

 

 

 

 

 

11.50%, 03/15/09

 

Caa1

 

78

 

150

 

Station Casinos, Inc., Senior Notes,

 

 

 

 

 

 

 

6%, 04/01/12

 

Ba2

 

146

 

1,475

 

Station Casinos, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

7.75%, 08/15/16

 

Ba2

 

1,528

 

1,175

 

Trump Entertainment ResortsHoldings, L.P., Senior Secured Notes,

 

 

 

 

 

 

 

8.50%, 06/01/15

 

Caa1

 

1,124

 

475

 

Tunica Biloxi Gaming Authority, Senior Notes,

 

 

 

 

 

 

 

9%, 11/15/15 (g)

 

B2

 

490

 

 

 

 

 

 

 

16,812

 

Leisure, Amusement and Entertainment - 2.08%

 

 

 

 

 

800

 

AMF Bowling Worldwide, Inc. Senior Subordinated Notes,

 

 

 

 

 

 

 

10%, 03/01/10

 

B3

 

829

 

850

 

Eastman Kodak Company, Senior Notes,

 

 

 

 

 

 

 

7.25%, 11/15/13

 

B2

 

833

 

775

 

K2 Inc., Senior Notes,

 

 

 

 

 

 

 

7.375%, 07/01/14

 

B1

 

756

 

513

 

Town Sports International, Inc., Senior Notes,

 

 

 

 

 

 

 

9.625%, 04/15/11

 

B2

 

541

 

1,175

 

Universal City Development Partners, Ltd., Senior Notes,

 

 

 

 

 

 

 

11.75%, 04/01/10

 

B2

 

1,266

 

 

 

 

 

 

 

4,225

 

Machinery - 1.22%

 

 

 

 

 

850

 

Columbus McKinnon Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

8.875%, 11/01/13

 

B2

 

875

 

747

 

JLG Industries, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

8.375%, 06/15/12

 

B2

 

777

 

775

 

Terex Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

9.25%, 07/15/11

 

B1

 

817

 

 

 

 

 

 

 

2,469

 

 



 

Mining, Steel, Iron and Non-Precious Metals - 6.04%

 

 

 

 

 

825

 

Alpha Natural Resources, LLC, Senior Notes,

 

 

 

 

 

 

 

10%, 06/01/12

 

B3

 

887

 

575

 

Arch Western Finance LLC, Senior Notes,

 

 

 

 

 

 

 

6.75%, 07/01/13

 

B1

 

553

 

450

 

Century Aluminum Company, Senior Notes,

 

 

 

 

 

 

 

7.50%, 08/15/14

 

B1

 

449

 

1,525

 

Earle M. Jorgensen Company, Senior Secured Notes,

 

 

 

 

 

 

 

9.75%, 06/01/12

 

Ba3

 

1,630

 

1,125

 

Foundation PA Coal Company, Senior Notes,

 

 

 

 

 

 

 

7.25%, 08/01/14

 

Ba3

 

1,097

 

750

 

Gerdau Ameristeel Corporation, Senior Notes,

 

 

 

 

 

 

 

10.375%, 07/15/11

 

Ba3

 

806

 

1,350

 

Gibraltar Industries, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

8%, 12/01/15

 

Ba3

 

1,326

 

500

 

Indalex Holdings Corporation, Senior Notes,

 

 

 

 

 

 

 

11.50%, 02/01/14 (g)

 

Caa1

 

530

 

325

 

Massey Energy Company, Senior Notes,

 

 

 

 

 

 

 

6.625%, 11/15/10

 

B2

 

317

 

425

 

Massey Energy Company, Senior Notes,

 

 

 

 

 

 

 

6.875%, 12/15/13

 

B2

 

387

 

375

 

Metals USA, Inc., Senior Notes,

 

 

 

 

 

 

 

11.125%, 12/01/15

 

B3

 

412

 

1,000

 

Neenah Foundry Company, Senior Secured Notes,

 

 

 

 

 

 

 

11%, 09/30/10 (g)

 

B2

 

1,080

 

850

 

Novelis, Inc., Senior Notes,

 

 

 

 

 

 

 

8.25%, 02/15/15 (g)

 

B3

 

805

 

2,000

 

Peabody Energy Corporation, Senior Notes,

 

 

 

 

 

 

 

6.875%, 03/15/13

 

Ba1

 

1,980

 

 

 

 

 

 

 

12,259

 

Oil and Gas - 16.22%

 

 

 

 

 

2,075

 

AmeriGas Partners, L.P., Senior Notes,

 

 

 

 

 

 

 

7.25%, 05/20/15

 

B1

 

2,070

 

750

 

Atlas Pipeline Partners, L.P., Senior Notes,

 

 

 

 

 

 

 

8.125%, 12/15/15

 

B2

 

766

 

1,050

 

Chaparral Energy, Inc., Senior Notes,

 

 

 

 

 

 

 

8.50%, 12/01/15

 

B3

 

1,045

 

1,100

 

CHC Helicopter Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

7.375%, 05/01/14

 

B1

 

1,037

 

550

 

Chesapeake Energy Corporation, Senior Notes,

 

 

 

 

 

 

 

6.50%, 08/15/17

 

Ba2

 

514

 

2,025

 

Chesapeake Energy Corporation, Senior Notes,

 

 

 

 

 

 

 

6.875%, 11/15/20

 

Ba2

 

1,916

 

300

 

Colorado Interstate Gas Company, Senior Notes,

 

 

 

 

 

 

 

5.95%, 03/15/15

 

Ba1

 

287

 

1,450

 

Colorado Interstate Gas Company, Senior Notes,

 

 

 

 

 

 

 

6.80%, 11/15/15

 

Ba1

 

1,461

 

1,075

 

Compton Petroleum Finance Corporation, Senior Notes,

 

 

 

 

 

 

 

7.625%, 12/01/13

 

B2

 

1,029

 

750

 

Copano Energy, LLC, Senior Notes,

 

 

 

 

 

 

 

8.125%, 03/01/16

 

B2

 

761

 

725

 

Denbury Resources, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

7.50%, 04/01/13

 

B1

 

727

 

350

 

Denbury Resources, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

7.50%, 12/15/15

 

B1

 

351

 

286

 

Dresser-Rand Group Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

7.375%, 11/01/14

 

B2

 

282

 

1,475

 

El Paso Production Holding Company, Senior Notes

 

 

 

 

 

 

 

7.75%, 06/01/13

 

B1

 

1,512

 

775

 

Encore Acquisition Company, Senior Subordinated Notes,

 

 

 

 

 

 

 

7.25%, 12/01/17

 

B1

 

756

 

825

 

Ferrellgas Partners L.P., Senior Notes,

 

 

 

 

 

 

 

8.75%, 06/15/12

 

B2

 

858

 

1,000

 

Hanover Compressor Company, Senior Notes,

 

 

 

 

 

 

 

7.50%, 04/15/13

 

B3

 

1,000

 

1,050

 

Hanover Equipment Trust, Senior Secured Notes,

 

 

 

 

 

 

 

8.75%, 09/01/11

 

B2

 

1,089

 

1,250

 

Hilcorp Energy I, L.P., Senior Notes,

 

 

 

 

 

 

 

7.75%, 11/01/15 (g)

 

B3

 

1,225

 

650

 

Magnum Hunter Resources, Inc., Senior Notes,

 

 

 

 

 

 

 

9.60%, 03/15/12

 

B1

 

687

 

850

 

Mission Energy Holding Company, Senior Notes,

 

 

 

 

 

 

 

13.50%, 07/15/08

 

B2

 

950

 

200

 

Northwest Pipeline Corporation, Senior Notes,

 

 

 

 

 

 

 

8.125%, 03/01/10

 

Ba1

 

209

 

875

 

Offshore Logistics, Inc., Senior Notes,

 

 

 

 

 

 

 

6.125%, 06/15/13

 

Ba2

 

814

 

1,000

 

Petrohawk Energy Corporation, Senior Notes,

 

 

 

 

 

 

 

9.125%, 07/15/13 (g)

 

B3

 

1,010

 

775

 

Plains Exploration & Production Co., L.P., Senior Subordinated Notes,

 

 

 

 

 

 

 

8.75%, 07/01/12

 

B1

 

819

 

525

 

Range Resources Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

6.375%, 03/15/15

 

B1

 

500

 

325

 

Range Resources Corporation, Senior SubordinatedNotes,

 

 

 

 

 

 

 

7.375%, 07/15/13

 

B1

 

326

 

475

 

Range Resources Corporation, Senior Subordinated

 

 

 

 

 

 

 

7.50%, 05/15/16

 

B1

 

476

 

825

 

SESI, L.L.C., Senior Notes,

 

 

 

 

 

 

 

6.875%, 06/01/14 (g)

 

Ba3

 

817

 

1,125

 

Southern Natural Gas Company, Senior Notes,

 

 

 

 

 

 

 

8.875%, 03/15/10

 

Ba1

 

1,181

 

825

 

Stone Energy Corporation, Senior Notes,

 

 

 

 

 

 

 

8.24%, 07/15/10 (g)

 

B2

 

821

 

400

 

Swift Energy Company, Senior Subordinated Notes,

 

 

 

 

 

 

 

9.375%, 05/01/12

 

B2

 

421

 

450

 

Universal Compression, Inc., Senior Notes,

 

 

 

 

 

 

 

7.25%, 05/15/10

 

B1

 

452

 

700

 

Williams Clayton Energy, Inc., Senior Notes,

 

 

 

 

 

 

 

7.75%, 08/01/13

 

B3

 

630

 

175

 

Williams Companies, Inc., Senior Notes,

 

 

 

 

 

 

 

7.625%, 07/15/19

 

Ba2

 

182

 

3,725

 

Williams Companies, Inc., Senior Notes,

 

 

 

 

 

 

 

8.125%, 03/15/12

 

Ba2

 

3,976

 

 

 

 

 

 

 

32,957

 

Personal, Food and Miscellaneous Services - 2.64%

 

 

 

 

 

225

 

American Greetings Corporation, Senior Notes,

 

 

 

 

 

 

 

7.375%, 06/01/16

 

Ba2

 

228

 

983

 

FTD, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

7.75%, 02/15/14

 

B3

 

966

 

800

 

FTI Consulting, Inc., Senior Notes,

 

 

 

 

 

 

 

7.625%, 06/15/13

 

Ba2

 

814

 

525

 

FTI Consulting, Inc., Senior Notes,

 

 

 

 

 

 

 

7.75%, 10/01/16 (g)

 

Ba2

 

529

 

600

 

Mac-Gray Corporation, Senior Notes,

 

 

 

 

 

 

 

7.625%, 08/15/15

 

B2

 

609

 

850

 

O’Charleys, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

9%, 11/01/13

 

B1

 

880

 

475

 

Real Mex Restaurants, Inc., Senior Notes,

 

 

 

 

 

 

 

10.25%, 04/01/10

 

Ba3

 

499

 

900

 

Restaurant Company, Senior Notes,

 

 

 

 

 

 

 

10%, 10/01/13

 

B3

 

835

 

 

 

 

 

 

 

5,360

 

 



 

Personal Non-Durable Consumer Products - .99%

 

 

 

 

 

800

 

ACCO Brands Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

7.625%, 08/15/15

 

B2

 

774

 

500

 

American Achievement Group Holding Corp., Senior Notes,

 

 

 

 

 

 

 

12.75%, 10/01/12 (g)(i).

 

Caa1

 

523

 

50

 

Jostens Holding Corporation, Senior Notes,

 

 

 

 

 

 

 

10.25%, 12/01/13 (b)

 

B3

 

41

 

675

 

Jostens Intermediate Holding Corp., Senior Subordinated Notes,

 

 

 

 

 

 

 

7.625%, 10/01/12

 

B2

 

678

 

 

 

 

 

 

 

2,016

 

Printing and Publishing - 8.94%

 

 

 

 

 

1,225

 

Advanstar Communications Inc., Senior Secured Notes,

 

 

 

 

 

 

 

10.75%, 08/15/10

 

B1

 

1,326

 

575

 

Advanstar Communications Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

12%, 02/15/11

 

Caa1

 

604

 

675

 

Advanstar Inc., Senior Discount Debentures,

 

 

 

 

 

 

 

15%, 10/15/11

 

(e)

 

700

 

406

 

Affinity Group Holding, Inc., Senior Notes,

 

 

 

 

 

 

 

10.875%, 02/15/12 (i)

 

Caa1

 

380

 

850

 

Affinity Group Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

9%, 02/15/12

 

B3

 

848

 

1,053

 

CanWest Media, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

8%, 09/15/12

 

B2

 

1,042

 

1,137

 

Dex Media East LLC, Senior Subordinated Notes,

 

 

 

 

 

 

 

12.125%, 11/15/12

 

B2

 

1,271

 

650

 

Dex Media West LLC, Senior Notes,

 

 

 

 

 

 

 

8.50%, 08/15/10

 

B1

 

670

 

800

 

Dex Media West LLC, Senior Subordinated Notes,

 

 

 

 

 

 

 

9.875%, 08/15/13

 

B2

 

862

 

725

 

Haights Cross Communications Operating Company, Senior Notes,

 

 

 

 

 

 

 

11.75%, 08/15/11

 

Caa2

 

746

 

875

 

Houghton Mifflin Company, Senior Notes,

 

 

 

 

 

 

 

8.25%, 02/01/11

 

B1

 

895

 

1,750

 

Lamar Publishing Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

6.625%, 08/15/15

 

Ba3

 

1,671

 

225

 

MediaNews Group, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

6.375%, 04/01/14

 

B2

 

199

 

650

 

MediaNews Group, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

6.875%, 10/01/13

 

B2

 

596

 

1,000

 

Morris Publishing Group, LLC, Senior Subordinated Notes,

 

 

 

 

 

 

 

7%, 08/01/13

 

B1

 

952

 

3,275

 

R.H. Donnelley Finance Corporation, Senior Notes,

 

 

 

 

 

 

 

8.875%, 01/15/16

 

B3

 

3,295

 

1,900

 

R.H. Donnelley Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

10.875%, 12/15/12

 

B2

 

2,102

 

 

 

 

 

 

 

18,159

 

Retail Stores - 3.82%

 

 

 

 

 

1,000

 

Alimentation Couche-Tard, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

7.50%, 12/15/13

 

Ba2

 

1,012

 

300

 

AutoNation, Inc. Senior Notes,

 

 

 

 

 

 

 

7%, 04/15/14 (g)

 

Ba2

 

299

 

275

 

AutoNation, Inc. Senior Notes,

 

 

 

 

 

 

 

7.507%, 04/15/13 (g)

 

Ba2

 

279

 

2,925

 

GameStop Corporation, Senior Notes,

 

 

 

 

 

 

 

8%, 10/01/12

 

Ba3

 

3,005

 

525

 

Gregg Appliances, Inc., Senior Notes,

 

 

 

 

 

 

 

9%, 02/01/13

 

B2

 

480

 

1,150

 

Leslie’s Poolmart, Inc., Senior Notes,

 

 

 

 

 

 

 

7.75%, 02/01/13

 

B3

 

1,134

 

1,025

 

Nebraska Book Company, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

8.625%, 03/15/12

 

B3

 

961

 

550

 

Stripes Acquisition, LLC, Senior Notes,

 

 

 

 

 

 

 

10.625%, 12/15/13 (g)

 

B2

 

584

 

 

 

 

 

 

 

7,754

 

Telecommunications - 16.86%

 

 

 

 

 

100

 

American Cellular Corporation, Senior Notes,

 

 

 

 

 

 

 

10%, 08/01/11

 

B3

 

105

 

800

 

American Tower Corporation, Senior Notes,

 

 

 

 

 

 

 

7.125%, 10/15/12

 

Ba3

 

820

 

125

 

American Tower Corporation, Senior Notes,

 

 

 

 

 

 

 

7.50%, 05/01/12

 

Ba3

 

129

 

150

 

American Towers, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

7.25%, 12/01/11

 

Ba2

 

155

 

475

 

Broadview Networks Holdings, Inc., Senior Secured Notes,

 

 

 

 

 

 

 

11.375%, 09/01/12 (g)

 

B3

 

483

 

1,075

 

Centennial Cellular Operating Co. LLC, Senior Notes,

 

 

 

 

 

 

 

10.125%, 06/15/13

 

B2

 

1,148

 

475

 

Centennial Communications Corp., Senior Notes,

 

 

 

 

 

 

 

10%, 01/01/13

 

Caa1

 

482

 

450

 

Citizens Communications Company, Senior Notes,

 

 

 

 

 

 

 

6.25%, 01/15/13

 

Ba2

 

438

 

1,075

 

Citizens Communications Company, Senior Notes,

 

 

 

 

 

 

 

9%, 08/15/31

 

Ba2

 

1,158

 

1,050

 

Digicel Limited, Senior Notes,

 

 

 

 

 

 

 

9.25%, 09/01/12 (g)

 

B3

 

1,089

 

600

 

Dobson Cellular Systems, Inc., Senior Secured Notes,

 

 

 

 

 

 

 

9.875%, 11/01/12

 

B1

 

647

 

725

 

Dobson Communications Corporation, Senior Notes,

 

 

 

 

 

 

 

8.875%, 10/01/13

 

Caa2

 

720

 

500

 

GCI, Inc., Senior Notes,

 

 

 

 

 

 

 

7.25%, 02/15/14

 

B1

 

484

 

425

 

Horizon PCS, Inc., Senior Notes,

 

 

 

 

 

 

 

11.375%, 07/15/12

 

B3

 

476

 

450

 

iPCS Escrow Company, Senior Notes,

 

 

 

 

 

 

 

11.50%, 05/01/12

 

B3

 

502

 

63

 

Level 3 Communications, Inc., Convertible Subordinated

 

 

 

 

 

 

 

Bonds, 6%, 09/15/09

 

Caa3

 

57

 

183

 

Level 3 Communications, Inc., Convertible Subordinated Notes,

 

 

 

 

 

 

 

6%, 03/15/10

 

Caa3

 

161

 

650

 

Level 3 Communications, Inc., Senior Notes,

 

 

 

 

 

 

 

11.50%, 03/01/10

 

Caa2

 

668

 

325

 

Level 3 Financing, Inc., Senior Notes,

 

 

 

 

 

 

 

10.75%, 10/15/11

 

B2

 

340

 

975

 

Lucent Technologies, Inc., Senior Notes

 

 

 

 

 

 

 

6.50%, 01/15/28

 

B1

 

868

 

1,800

 

NEXTEL Communications, Inc., Senior Notes,

 

 

 

 

 

 

 

6.875%, 10/31/13

 

Baa3

 

1,837

 

1,375

 

NEXTEL Communications, Inc., Senior Notes,

 

 

 

 

 

 

 

7.375%, 08/01/15

 

Baa3

 

1,426

 

725

 

Nextel Partners, Inc., Senior Notes,

 

 

 

 

 

 

 

8.125%, 07/01/11

 

Ba3

 

759

 

2,675

 

Nordic Telephone Company Holdings ApS., Senior Notes,

 

 

 

 

 

 

 

8.875%, 05/01/16 (g)

 

B2

 

2,819

 

1,250

 

Qwest Corporation, Senior Notes,

 

 

 

 

 

 

 

7.50%, 10/01/14 (g)

 

Ba3

 

1,292

 

1,025

 

Qwest Corporation, Senior Notes,

 

 

 

 

 

 

 

7.875%, 09/01/11

 

Ba2

 

1,074

 

825

 

Qwest Corporation, Senior Notes,

 

 

 

 

 

 

 

8.64%, 06/15/13

 

Ba3

 

888

 

975

 

Qwest Corporation, Senior Notes,

 

 

 

 

 

 

 

8.875%, 03/15/12

 

Ba2

 

1,059

 

375

 

Rogers Wireless Inc., Senior Secured Notes,

 

 

 

 

 

 

 

7.50%, 03/15/15

 

Ba2

 

401

 

2,400

 

Rogers Wireless Inc., Senior Secured Notes,

 

 

 

 

 

 

 

8%, 12/15/12

 

B1

 

2,559

 

 



 

1,000

 

Rogers Wireless Inc., Senior Secured Notes,

 

 

 

 

 

 

 

9.625%, 05/01/11

 

Ba2

 

1,132

 

475

 

Rural Cellular Corporation, Senior Notes,

 

 

 

 

 

 

 

9.875%, 02/01/10

 

B3

 

498

 

325

 

Rural Cellular Corporation, Senior Subordinated Notes,

 

 

 

 

 

 

 

11.239%, 11/01/12

 

Caa2

 

338

 

850

 

Syniverse Technologies, Inc., Senior Subordianted Notes,

 

 

 

 

 

 

 

7.75%, 08/15/13

 

B2

 

814

 

100

 

Time Warner Telecom Holdings, Inc., Senior Notes,

 

 

 

 

 

 

 

9.25%, 02/15/14

 

B3

 

105

 

500

 

Valor Telecommunications Enterprise, L.L.C., Senior Notes,

 

 

 

 

 

 

 

7.75%, 02/15/15

 

Ba1

 

534

 

1,525

 

Wind Acquistion Finance S.A., Senior Notes,

 

 

 

 

 

 

 

10.75%, 12/01/15 (g)

 

B2

 

1,674

 

3,850

 

Windstream Corporation, Senior Notes,

 

 

 

 

 

 

 

8.625%, 08/01/16 (g)

 

Ba3

 

4,119

 

 

 

 

 

 

 

34,258

 

Textiles and Leather - .46%

 

 

 

 

 

100

 

Interface, Inc., Senior Subordinated Notes,

 

 

 

 

 

 

 

9.50%, 02/01/14

 

Caa1

 

104

 

850

 

Rafaella Apparel Group, Inc., Senior Secured,

 

 

 

 

 

 

 

11.25%, 06/15/11(g)

 

B2

 

837

 

 

 

 

 

 

 

941

 

Utilities - 12.39%

 

 

 

 

 

350

 

The AES Corporation, Senior Notes,

 

 

 

 

 

 

 

7.75%, 03/01/14

 

B1

 

366

 

1,075

 

The AES Corporation, Senior Notes,

 

 

 

 

 

 

 

9.375%, 09/15/10

 

B1

 

1,164

 

3,100

 

The AES Corporation, Senior Secured Notes,

 

 

 

 

 

 

 

9%, 05/15/15 (g)

 

Ba3

 

3,325

 

1,050

 

Allegheny Energy Supply Company, LLC, Senior Notes,

 

 

 

 

 

 

 

8.25%, 04/15/12 (g)

 

Ba3

 

1,143

 

1,700

 

Midwest Generation, LLC, Senior Secured Notes,

 

 

 

 

 

 

 

8.75%, 05/01/34

 

Ba2

 

1,825

 

825

 

Mirant Americas Generation, LLC, Senior Notes,

 

 

 

 

 

 

 

8.30%, 05/01/11

 

Caa1

 

825

 

3,250

 

Mirant North America, LLC, Senior Notes,

 

 

 

 

 

 

 

7.375%, 12/31/13

 

B2

 

3,250

 

1,275

 

NRG Energy, Inc., Senior Notes,

 

 

 

 

 

 

 

7.25%, 02/01/14

 

B1

 

1,269

 

4,800

 

NRG Energy, Inc., Senior Notes,

 

 

 

 

 

 

 

7.375%, 02/01/16

 

B1

 

4,764

 

1,650

 

Orion Power Holdings, Inc., Senior Notes,

 

 

 

 

 

 

 

12%, 05/01/10

 

B2

 

1,873

 

700

 

Roseton-Danskammer 2001, Senior Secured Notes,

 

 

 

 

 

 

 

7.27%, 11/08/10

 

Ba3

 

716

 

225

 

Sierra Pacific Resources, Senior Notes,

 

 

 

 

 

 

 

7.803%, 06/15/12

 

B1

 

235

 

2,050

 

Sierra Pacific Resources, Senior Notes,

 

 

 

 

 

 

 

8.625%, 03/15/14

 

B1

 

2,222

 

1,500

 

TECO Energy, Inc., Senior Notes,

 

 

 

 

 

 

 

7%, 05/01/12

 

Ba2

 

1,556

 

600

 

Utilicorp Canada Financial Corporation, Senior Notes,

 

 

 

 

 

 

 

7.75%, 06/15/11

 

B2

 

630

 

 

 

 

 

 

 

25,163

 

 

 

Total Corporate Debt Securities

 

 

 

 

 

 

 

(Total cost of $311,562)

 

 

 

312,396

 

 

 

 

 

 

 

 

 

BANK DEBT - 1.48% (d)

 

 

 

 

 

Automobile - .25%

 

 

 

 

 

500

 

The Goodyear Tire & Rubber Company,

 

 

 

 

 

 

 

8.704%, 03/01/11 (h)

 

(e)

 

505

 

Electronics - .37%

 

 

 

 

 

750

 

Infor Global Solutions,

 

 

 

 

 

 

 

9.12%, 07/28/12 (h)

 

(e)

 

755

 

Hotels, Motels, Inns and Gaming - .49%

 

 

 

 

 

1,000

 

Lakes Gaming And Resorts, LLC,

 

 

 

 

 

 

 

11.637%, 06/21/10 (h)

 

(e)

 

990

 

Oil and Gas - .25%

 

 

 

 

 

500

 

Lyondell Chemical Company,

 

 

 

 

 

 

 

7.11%, 10/13/13 (h)

 

(e)

 

501

 

Telecommunicatons - .12%

 

 

 

 

 

250

 

IPC Systems, Inc.,

 

 

 

 

 

 

 

11.867%, 09/29/14 (h)

 

(e)

 

252

 

 

 

Total Bank Debt (Total cost of $2,995)

 

 

 

3,003

 

 

Shares

 

 

 

 

 

 

 

PREFERRED STOCK - 1.50% (d)

 

 

 

 

 

Automobile - 1.24%

 

 

 

 

 

83,575

 

General Motors Corporation, Senior Convertible,

 

 

 

 

 

 

 

Series B, Preferred Stock, 5.25%

 

Caa1

 

1,669

 

24,775

 

Ford Motor Company Capital Trust II, Convertible,

 

 

 

 

 

 

 

Preferred Stock, 6.50%,

 

Caa2

 

844

 

 

 

 

 

 

 

2,513

 

Banking - 0.00%

 

 

 

 

 

57,935

 

WestFed Holdings, Inc., Cumulative, Series A,

 

 

 

 

 

 

 

Preferred Stock, 15.50% (a)(c)

 

(e)

 

 

 

 

 

 

 

 

 

 

Broadcasting and Entertainment - .26%

 

 

 

 

 

483

 

Spanish Broadcasting System, Inc., Series B,

 

 

 

 

 

 

 

Preferred Stock, 10.75%

 

B3

 

526

 

 

 

Total Preferred Stock (Total cost of $7,832)

 

 

 

3,039

 

 

 

 

 

 

 

 

 

COMMON STOCK and WARRANTS - .10% (d)

 

 

 

 

 

27,474

 

WestFed Holdings, Inc.,

 

 

 

 

 

 

 

Common Stock (a)(c)

 

 

 

 

10,052

 

WKI Holding Company, Inc.,

 

 

 

 

 

 

 

Common Stock (c)(f)(h)

 

 

 

201

 

 

 

Total Common Stock and Warrants

 

 

 

 

 

 

 

(Total cost of $2,295)

 

 

 

201

 

 



 

Principal

 

 

 

 

 

 

 

Amount

 

 

 

 

 

 

 

SHORT-TERM INVESTMENTS - 2.11% (d)

 

 

 

 

 

 

 

 

 

 

 

 

 

4,293

 

MassMutual Funding LLC,

 

 

 

 

 

 

 

Commercial Paper, Due 10/02/06,

 

 

 

 

 

 

 

Discount of 5.38%

 

 

 

4,292

 

 

 

 

 

 

 

 

 

 

 

Total Short-Term Investments

 

 

 

 

 

 

 

(Total cost of $4,292)

 

 

 

4,292

 

Total Investments (Total cost of $328,976)

 

 

 

$

322,931

 

 


(a)

Denotes issuer is in bankruptcy proceedings. Income is not being accrued.

 

 

(b)

Securities are step interest bonds. Interest on these bonds accrues based on the effective interest method which results in a constant rate of interest being recognized.

 

 

(c)

Security is valued at fair value using methods determined by the Board of Directors. The total value of these securities at September 30, 2006 was $201.

 

 

(d)

Percentages indicated are based on total net assets to common shareholders of $203,137.

 

 

(e)

Not rated.

 

 

(f)

Non-income producing.

 

 

(g)

Securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers in transactions exempt from registration. Unless otherwise noted, 144A Securities are deemed to be liquid. See Note 1of the Note to Schedule of Investments for vaulation policy. Total market value of Rule 144A securities amounted to $59,130 as of September 30, 2006.

 

 

(h)

Restricted as to public resale. At the date of acquisition, these securities were valued at cost. The total value of restricted securities owned at September 30, 2006 was $3,204 or 1.58% of total net assets to common shareholders.

 

 

(i)

Pay-In-Kind Security

 



 

Note 1 to Schedule of Investments - September 30, 2006 (Unaudited)

 

Significant Accounting and Other Policies

 

The New America High Income Fund, Inc. (the Fund) was organized as a corporation in the state of Maryland on November 19, 1987 and is registered with the Securities and Exchange Commission as a diversified, closed-end investment company under the Investment Company Act of 1940. The Fund commenced operations on February 26, 1988. The investment objective of the Fund is to provide high current income while seeking to preserve stockholders’ capital through investment in a professionally managed, diversified portfolio of “high yield” fixed-income securities.

 

The Fund invests primarily in fixed maturity corporate debt securities that are rated less than investment grade.  Risk of loss upon default by the issuer is significantly greater with respect to such securities compared to investment grade securities because these securities are generally unsecured and are often subordinated to other creditors of the issuer and because these issuers usually have high levels of indebtedness and are more sensitive to adverse economic conditions, such as a recession, than are investment grade issuers. In some cases, the collection of principal and timely receipt of interest is dependent upon the issuer attaining improved operating results, selling assets or obtaining additional financing.

 

The Fund may focus its investments in certain industries, subjecting it to greater risk than a Fund that is more diversified.  See the schedule of investments for information on individual securities as well as industry diversification and credit quality ratings.

 

Valuation of Investments—Investments for which market quotations are readily available are stated at market value, which is determined by using the most recently quoted bid price provided by an independent pricing service or principal market maker.  Independent pricing services provide market quotations based primarily on quotations from dealers and brokers, market transactions, accessing data from quotations services, offering sheets obtained from dealers and various relationships between securities. Short-term investments with original maturities of 60 days or less are stated at amortized cost, which approximates market value. Following procedures approved by the Board of Directors, investments for which market quotations are not readily available (primarily fixed-income corporate bonds and notes) are stated at fair value on the basis of subjective valuations furnished by securities dealers and brokers. Other investments, for which market quotations are not readily available with a cost of approximately $7,214,000 and a value of $201,000, are valued in good faith at fair market value using methods determined by the Board of Directors.

 

Securities Transactions and Net Investment Income—Securities transactions are recorded on trade date. Interest income is accrued on a daily basis. Discount on short-term investments is amortized to investment income. Premiums or discounts on corporate debt securities are amortized based on the interest method, for financial reporting purposes. All income on original issue discount and step interest bonds is accrued based on the effective interest method. The Fund does not amortize market premiums or discounts for tax purposes. Dividend payments received in the form of additional securities are recorded on the ex-dividend date in an amount equal to the value of the security on such date.

 



 

Item 2.

 

(a)   The registrant’s President and Treasurer have concluded that the registrant’s disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) are effective, based on their evaluation of these disclosure controls and procedures required by Rule 30a-3(b) as of a date within 90 days of the filing date of this report.

 

(b)   There were no changes in the registrant’s internal control over financial reporting (as defined in rule 30a-3(d) under the Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

Item 3.

 

Certifications as required by Rule 30a-2(a) under the Act are attached hereto.

 


 


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant)

The New America High Income Fund, Inc

 

 

By (Signature and Title)

/s/ Robert F. Birch

 

 

Robert F. Birch

 

President

 

Date

November 21, 2006

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By (Signature and Title)

/s/ Robert F. Birch

 

 

Robert F. Birch

 

President

 

Date

November 21, 2006

 

 

 

By (Signature and Title)

/s/ Ellen E. Terry

 

 

Ellen E. Terry

 

Treasurer

 

Date

November 21, 2006

 

 



Exhibit 99.CERT

 

Form N-Q Certification

 

Certifications

 

I, Robert F. Birch, certify that:

 

1.             I have reviewed this report on Form N-Q of The New America High Income Fund, Inc.;

 

2.             Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.             Based on my knowledge, the schedule of investments included in this report , fairly present in all material respects the investments of the registrant, as of the end of the fiscal quarter for which this report is filed;

 

4.             The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined under 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

 

a)             Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b)            Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c)             Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

 

d)            Disclosed in this report any changes in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.             The registrant’s other certifying officer and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

a)             All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information, and

 

b)            Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

 

November 21, 2006

/s/ Robert F. Birch

 

 

 

 

Robert F. Birch, President and Director

 

 

 

Chief Executive Officer

 



 

Form N-Q Certification

 

Certifications

 

I, Ellen E. Terry, certify that:

 

1              I have reviewed this report on Form N-Q of The New America High Income Fund, Inc.;

 

2.             Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.             Based on my knowledge, the schedule of investments included in this report , fairly present in all material respects the investments of the registrant, as of the end of the fiscal quarter for which this report is filed;

 

4.             The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined under 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

 

a)     Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c)     Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

 

d)    Disclosed in this report any changes in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.             The registrant’s other certifying officer and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

a)     All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information, and

 

b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

 

November 21, 2006

/s/ Ellen E. Terry

 

 

 

 

Ellen E. Terry, Vice President and Treasurer

 

 

 

Chief Financial Officer