Research Update: Falcon Insurance Co. (Hong Kong) Ltd. On WatchNeg
- ID: 1781739
- March 2006
- Region: Hong Kong
- Standard & Poors
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
On March 16, 2006, Standard & Poor's Ratings Services placed its 'A-' insurer financial strength rating on Falcon Insurance Co. (Hong Kong) Ltd. (Falcon HK) on CreditWatch with negative implications. The CreditWatch placement follows similar rating actions on Odyssey America Reinsurance Corp. (Odyssey America Re), Clearwater Insurance Co., Hudson Specialty Insurance Co., and Odyssey Re Holdings Corp. (ORH). The rating on Falcon HK reflects explicit support provided in the form of a guarantee by Odyssey America Re, a subsidiary of Falcon HK's ultimate parent, Fairfax Financial Holdings Ltd. The ratings on the wider group were placed on CreditWatch negative in response to an announcement that ORH intends to file notice with the SEC that it will delay the filing of...
Companies mentioned in this report are: Falcon Insurance Co. (Hong Kong) Ltd.,Clearwater Insurance Co.,Odyssey Reinsurance Company,Odyssey Re Holdings Corp.,Hudson Specialty Insurance Co.,Fairfax Financial Holdings Ltd.
Action: On CreditWatch:Negative
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