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Article Says Funding Agreement-Backed Issuance Reached $10.7B in First Quarter of 2004 Apr 04
Standard & Poors, April 2004
Abstract
NEW YORK (Standard & Poor's) April 8, 2004--Standard & Poor's Ratings Services rated $10.7 billion of funding agreement-backed notes and certificates in the first quarter of 2004, according to an article published today. 'This is Standard & Poor's second-highest quarterly total ever,' said Standard & Poor's credit analyst Gary Martucci. The issuance total increased 18.4% compared with the previous quarter and 58.8% versus the first quarter of 2003. This brings the total of funding agreement/GIC-backed medium-term note and certificate issuance rated by Standard & Poor's since 1997 to $142.1 billion. Year to date, SunAmerica Life Insurance Co. was the largest issuer of funding agreement-backed notes, with Metropolitan Life Insurance Co. and Allstate Life Insurance Co. in second and third place,...
Companies mentioned in this report are: Metropolitan Life Insurance Co.,SunAmerica Life Insurance Co.,Allstate Life Insurance Co.
Action: General Comment
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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