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Montana Re Ltd. Series 2010-1 Class C And Class E Notes Upgraded Feb 12 Product Image

Montana Re Ltd. Series 2010-1 Class C And Class E Notes Upgraded Feb 12

  • ID: 2054408
  • February 2012
  • Region: Montana
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Feb. 9, 2012--Standard & Poor's Ratings Services said today that it raised its ratings on Montana Re Ltd.'s Series 2010-1 Class C notes to 'B(sf)' from 'CCC+(sf)', and on the Class E notes to 'B-(sf)' from 'CCC(sf)'. The upgrade puts the ratings back to where they were when the transaction closed in December 2010. The Class E notes were downgraded to 'CCC(sf)' on June 14, 2011, as a result of the Tohoku earthquake. Under the terms of the transaction, the earthquake was determined to be a covered event that put the Class E notes, which had been second-event notes (it would take at least two covered events to result in a loss of principal to...

Companies mentioned in this report are: Montana Re Ltd.
Action: Upgraded

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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Montana Re Ltd.

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