• +353-1-416-8900(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Presale: Embarcadero Re Ltd. $[150] Million Series 2012-I Class A Principal At-Risk Variable-Rate Notes Jan 12 Product Image

Presale: Embarcadero Re Ltd. $[150] Million Series 2012-I Class A Principal At-Risk Variable-Rate Notes Jan 12

  • Published: January 2012
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services has assigned its 'BB-(sf)' preliminary rating to the Series 2012-I notes to be issued by Embarcadero Re Ltd. The notes cover losses from U.S. earthquakes on an annual aggregate basis during a three-year risk period in the state of California. Our views of the transaction's credit risk reflect the counterparty credit ratings on all of the parties involved that can affect the timely payment of interest and the ultimate payment of principal on the notes. Our preliminary rating on the notes takes into account the implied rating on the catastrophe risk ('BB-') and the rating on the assets in the collateral account ('AAAm'). The preliminary rating reflects the lower of these two ratings, which is...

Companies mentioned in this report are: Allstate Insurance Co.,Liberty Mutual Fire Insurance Co.,Safeco Insurance Co. of America,United Services Automobile Association,Fire Insurance Exchange,Foremost Property & Casualty Insurance Co.,Interinsurance Exchange of the Automobile Club (Unsolicited Ratings),Mercury Casualty Co.,State Farm General Insurance Co.,Embarcadero Re Ltd.,California State Auto Group

Standard and Poors RatingsXpress READ MORE >

Allstate Insurance Co.,Liberty Mutual Fire Insurance Co.,Safeco Insurance Co. of America,United Services Automobile Association,Fire Insurance Exchange,Foremost Property & Casualty Insurance Co.,Interinsurance Exchange of the Automobile Club (Unsolicited Ratings),Mercury Casualty Co.,State Farm General Insurance Co.,Embarcadero Re Ltd.,California State Auto Group

Note: Product cover images may vary from those shown

RELATED PRODUCTS