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Bond Insurers' CDO Exposure Is Not Threatening
Standard & Poors, Dec 2002
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) Dec. 19, 2002--Although there has been a weakening in the bond insurance industry's collateralized debt obligation book of business, the overall capital adequacy of the industry has not fallen below 'AAA' standards, Standard & Poor's Ratings Services says in a report published today. In addition, Standard & Poor's says 'appropriate steps are being taken by the insurers to assure that credit exposure limits are adhered to, structuring methodology is consistent and conservative, and credit surveillance is ongoing.' Standard & Poor's analysts have recently met with each of the five 'AAA' rated insurers involved in this line of business and have reviewed detailed data on each insurer's CDO book of business. The five insurers are: Ambac...
Companies mentioned in this report are: Ambac Assurance Corp.,Assured Guaranty Municipal Corp.,MBIA Insurance Corp.,Assured Guaranty Corp,Syncora Guarantee Inc.
Action: S&P Event
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