PIMCO says $24 bln UBS credit buy rumors false-CNBC

NEW YORK, March 6 (Reuters) - Bond manager Pimco has not bought $24 billion of Alt-A investments from Swiss bank UBS, refuting market rumors that it had done so, CNBC reported on Thursday.

Citing an unnamed executive at Pacific Investment Management Co., CNBC said Pimco reiterated that it has been an active buyer of cheap assets amid the recent credit turmoil but that rumors it had bought $24 billion from UBS are "an exaggeration."

Pimco officials were not immediately to comment to Reuters.

UBS declined to comment to Reuters on the Pimco statement reported by CNBC. Its shares pared earlier losses in trading in Switzerland. (Editing by Theodore d'Afflisio)