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Atlas Reinsurance IV Ltd.'s Variable Rate Notes Assigned 'B' Ratings
Standard & Poors, Nov 2007
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
LONDON (Standard & Poor's) Nov. 29, 2007--Standard & Poor's Ratings Services said today that it assigned its 'B' credit ratings to the -160,000,000 Principal At Risk Variable Rate Notes due Jan. 10, 2011, issued by Atlas Reinsurance IV Ltd. (Atlas Re IV). The transaction closed on Nov. 29, 2007, at which time ratings were assigned to the variable-rate notes. 'Catastrophe (CAT) bonds of this type are well-established risk management tools for insurance and reinsurance companies to transfer peak risks in certain parts of the world into the capital markets,' said Standard & Poor's credit analyst Cameron Heath. Atlas Re IV is a special-purpose company, incorporated under the laws of Ireland, whose ordinary shares are held in charitable trust. It issued...
Companies mentioned in this report are: Goldman Sachs Group Inc. (The),SCOR Global P&C SE
Action: New Rating
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