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Queen Street III Capital Ltd. Principal-At-Risk Notes Assigned Preliminary Rating Jul 11
Standard & Poors, July 2011
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
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.
Queen Street III Capital Ltd.,Munich Reinsurance Co.