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Bulletin: Ratings On Residential Reinsurance 2008 Ltd.'s And 2009 Ltd.'s Class 4 Notes Unaffected By Covered Events So Far May 11
Standard & Poors, May 2011
Abstract
NEW YORK (Standard & Poor's) May 6, 2011--Standard & Poor's Ratings Services commented today on its 'BB+ (sf)' rating on Residential Reinsurance 2008 Ltd. Class 4 Series 2008-1 notes and its 'BB- (sf)' rating on Residential Reinsurance 2009 Ltd.'s Class 4 Series 2009-1 notes. These ratings are not presently affected by the covered events that have occurred during the current risk period. During the current risk period, which began on June 1, 2010, there have been six covered events for which PCS (Property Claims Services) has published estimated losses: Catastrophe Series Numbers 18, 31, 42, 43, 44, and 46. Total losses related to these six events are approximately $563 million for the Series 2008-1 notes and $555 million for the...
Companies mentioned in this report are: Residential Reinsurance 2008 Ltd.
Action: Bulletin
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.
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