you, Thank Mark.
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Importantly, is new averaging that overall while we our with executed rebalance, a with strategy quality portfolio fixed income high the rating a of purchases maintaining AX. consistent
individual On rating acted in downward related anticipation the pressure. needs defensive of in side, economic to migrations we
angle, with we pruning high proactively this probability of plan low sale have and of this BBB strategic of capital exposure proceeds were price efforts in without on identified gain have executed all program, higher to $X.X reduce incurring by to realized of the the book part potential for the a net selectively led bonds selling resulting net expected to advance able Further, yields million. of by losses. to at reinvest of realized deterioration, These we As in downgrade default. names
the largely executing unknown, and While additional proactively outlook are we individual exposures continuously fundamental on are remains reassessing economic our our opportunities. on deals
improve incremental the We corporate to have with our identified spreads. quality already portfolio attractive of opportunities de-risking further
funding spread able crisis. as a program we in full our Due in also with our intentional good second receptive strong existing mortgage market, like market residual on Equitable's position improving our the In we on This were highlight which enabled resulted these $XXX of principle Overall, XXX advantage issue agreements net successfully FABN portfolio have income. credit. corporate throughout the of recovery to our executing has by during of execute borrowers first would quarter, to we're structured the XX result, launch I agreement launched dislocations the impacted a portfolio, volatile loans, we note standing, a and keep for taking to in in strategically anticipate while new to of attractive these the during markets, loans. actions backed forbearance points basis of the a us yielding offering, addition, funding supporting simultaneously above improved and COVID quarter million costs. quality the loans
agility to our that, maintain and continue Mark back to With with speed, for to respond to will like strong comments. final I'd We discipline pass the call position.
