Australia Ratings has launched a family of indexes that will track the returns of non-government debt securities listed on the Australian Securities Exchange.Claiming that its indexes are the first to track ASX-listed debt securities, Australia Ratings has developed a composite index, a set of five indexes based on the complexity of the securities and two sub-indices separating securities that make franked and unfranked distributions. The indexes are calculated on an accumulation basis, which means that price movements and distributions are taken into account to produce a total return.The indexes will be published on the Australia Ratings website each month.Australia Ratings was appointed by the ASX in 2014 to assign credit ratings to debt and hybrid securities traded on the ASX.The ratings include a typical alphabetical scale, as well as a colour indicator based on Australia Ratings' product complexity indicator.Australia Ratings chief executive Chris Dalton said 'simple' securities (green) would include simple corporate bonds, while 'very complex' securities (red) would include bank hybrids."This approach gives investors an indication of the terms and conditions of the securities," Dalton said.