|
|
 |
|
Viewing report
|
|
|
|
BT Insurance Corp. Rtg Cut to `A-', Still on S&PWatch Sep 98
Standard & Poors, Sep 1998
Abstract
NEW YORK -- Standard & Poor's CreditWire 9/25/98 - Standard & Poor's today lowered its financial security and counterparty credit ratings on BT Insurance Corp. to single-'A'-minus from single-'A'-plus. The ratings remain on CreditWatch with negative implications, where they were placed Sept. 2, 1998. The CreditWatch placement is based on the intended sale of the company to Rhine Reinsurance Group (Rhine Re), whose operating entities -- Rhein Ruckversicherung AG and Rhine Reinsurance (Bermuda) Ltd. -- are rated single-'A'-minus. The rating downgrade is based on the change in status of BT Insurance within the Bankers Trust Corp. group, and the expectation that BT Insurance obligations will be guaranteed by Rhine Re following the completion of the sale. BT Insurance is no...
Companies mentioned in this report are: Rhine Re Insurance Ltd.,Deutsche Bank Trust Corp.,Alea Europe AG,Alea (Bermuda) Ltd.
Action: Downgraded, 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.
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.
|
|
|
|
