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Funding Agreement-Backed Note Issuance Totals $11.65 Billion For First Quarter of 2007 Apr 07

  • ID: 1822291
  • April 2007
  • Standard & Poors
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Standard & Poor's Ratings Services rated $11.65 billion of funding agreement-backed notes in the first quarter of 2007. This total constitutes an increase of 36% versus the fourth-quarter of 2006, and 50% versus the first quarter of 2006, respectively. The $11.65 billion that was issued this past quarter is the third-highest quarterly total ever, surpassed only by the $11.83 billion issued in first-quarter 2005 and the $11.71 billion issued in second-quarter 2004 (see Chart 1). First-quarter 2007 also saw the highest monthly total of rated issuance when, in January, Standard & Poor's rated $6.17 billion in funding agreement backed notes. This brings the total funding agreement/guaranteed investment contract-backed medium-term note and certificate issuance rated by Standard & Poor's since 1997...

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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

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- Nationwide Life Insurance Co.
- John Hancock Life Insurance Co.
- Metropolitan Life Insurance Co.
- New York Life Insurance Co.
- The Manufacturers Life Insurance Co.
- Principal Life Insurance Co.
- Security Life of Denver Insurance Co.
- Allstate Life Insurance Co.
- Reliance Standard Life Insurance Co.
- Jackson National Life Insurance Co.
- Genworth Life Insurance Co.
- Monumental Life Insurance Co.
- XL Life Insurance and Annuity Co.
- Chase Insurance Life and Annuity Co.
- Protective Life Secured Trusts
- Allstate Life Global Funding Trusts
- Principal Financial Global Funding II LLC
- ING U.S. Annuity and Life Insurance Co.
- Prudential Insurance Co. of America
- MetLife Insurance Co. of Connecticut
- Protective Life Insurance Co.
- Hartford Life Insurance Co.
- SunAmerica Life Insurance Co.
- Pacific Life Insurance Co.
- Genworth Life and Annuity Insurance Co.
- American General Life Insurance Co. of Delaware
- Beneficial Life Insurance Co.
- Scottish Annuity & Life Insurance Co. (Cayman) Ltd.
- MassMutual Life Insurance Co.
- Genworth Life Institutional Funding Trust

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