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Bond Insurers' Ratings Not Threatened In Wake of Terrorist Attacks
Standard & Poors, Sep 2001
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
NEW YORK (Standard & Poor's) Sept. 28, 2001 -- Exposure to various credits impacted by the Sept. 11 terrorist attack on the United States, including various New York credits, airports around the country, aircraft-backed securities, and various soft capital providers, does not currently pose a threat to any of the monoline bond insurers' ratings. This conclusion is based on the modest percentage of total exposure the affected insured credits represent, the limited potential for payment defaults, and the minimal exposure to soft capital providers whose financial strength ratings have been put on CreditWatch. This situation differs greatly from the California utility crisis that unfolded early this year. There, a small number of credits were affected and near-term defaults were a...
Companies mentioned in this report are: Ambac Assurance Corp.,Financial Guaranty Insurance Co.,Assured Guaranty Corp,ACE Ltd.,MBIA Inc.,XL Group Ltd.,Radian Asset Assurance Inc.,ACA Assurance,Syncora Guarantee Inc.,Syncora Guarantee Re Ltd.
Action: S&P Event
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