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Queen Street III Capital Ltd. Principal-At-Risk Notes Assigned Preliminary Rating Jul 11 Product Image

Queen Street III Capital Ltd. Principal-At-Risk Notes Assigned Preliminary Rating Jul 11

  • Published: July 2011
  • Standard & Poors

Abstract
LONDON (Standard & Poor's) July 15, 2011--Standard & Poor's Ratings Services said today that it assigned a preliminary credit rating of 'B+ (sf)' to the $50 million principal-at-risk variable-rate notes to be issued by Queen Street III Capital Ltd., sponsored by Munich Reinsurance Co. Munich Reinsurance Co. (Munich Re; AA-/Stable/--) will also be the counterparty to the risk transfer contract. It is the principal operating company, as well as the ultimate holding company in a group of affiliated companies (the Munich Re Group). Munich Re transacts insurance and reinsurance business worldwide and is one of the largest global reinsurers in terms of premiums written and capital. The notes cover European windstorm between July 2011 and July 2014 in the following...

Companies mentioned in this report are: Queen Street III Capital Ltd.,Munich Reinsurance Co.
Action: Preliminary Rating

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Queen Street III Capital Ltd.,Munich Reinsurance Co.

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