- Language: English
- Published: June 2011
Research Update: Financial Security Assurance Inc. 'AAA' Ratings Placed On CreditWatch Negative Oct 08
- Published: October 2008
- Standard & Poors
On Oct. 8, 2008, Standard & Poor's Ratings Services placed its 'AAA' financial strength rating and counterparty credit rating on Financial Security Assurance Inc. (FSA) on CreditWatch with negative implications. This action follows the rating downgrade to 'A+' from 'AA-' of parent company Dexia S.A.'s core units. The Dexia ratings are on CreditWatch with developing implications (see the Oct. 7 research update on Dexia). In addition, we lowered the counterparty credit rating on Financial Security Assurance Holdings Ltd. (FSA Holdings) to 'A+' from 'AA-' and placed it on CreditWatch with developing implications. As Dexia is the 99.7% owner of FSA Holdings, we view the credit quality of this bond insurance holding company essentially as equal to that of Dexia. We...
Companies mentioned in this report are: Assured Guaranty Municipal Corp.,Assured Guaranty Municipal Holdings Inc.,Assured Guaranty (Europe) Ltd.,Assured Guaranty Municipal Insurance Co.,Assured Guaranty (Bermuda) Ltd.,Sutton Capital Trust I,Sutton Capital Trust II
Action: On CreditWatch:Developing
Action: On CreditWatch:Negative
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.
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Assured Guaranty Municipal Corp.,Assured Guaranty Municipal Holdings Inc.,Assured Guaranty (Europe) Ltd.,Assured Guaranty Municipal Insurance Co.,Assured Guaranty (Bermuda) Ltd.,Sutton Capital Trust I,Sutton Capital Trust II