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S&P Credit Research820 word report
published Sep 30, 2008
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S&P Credit Research
| Abstract: | LONDON (Standard&Poor's) Sept. 30, 2008--Standard&Poor's Ratings Services said today that it lowered its ratings on four natural peril catastrophe bonds. Ratings on Ajax Re Ltd.'s class A principal-at-risk variable-rate series 1 notes and Carillon Ltd.'s class A-1 principal-at-risk variable-rate notes were lowered to 'CC' from 'BB', and the CreditWatch placement on these ratings was retained with negative implications. The ratings on Newton Re Ltd.' s class A 2008-1 principal-at-risk variable-rate notes and Willow Re Ltd.'s class B 2007-1 notes were lowered to 'CCC' from 'BB' and 'BB+', respectively, and the CreditWatch implications on these ratings were revised to developing from negative. We placed the ratings on CreditWatch negative on Sept. 15, 2008, because of the notes'
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| Brief Excerpt: | RESEARCH Ratings Definitions Ratings On Four Natural Peril Catastrophe Bonds Are Lowered And Remain On CreditWatch Publication date: 30-Sep-2008 Primary Credit Analysts: Cameron Heath, London (44) 20-7176-7053; cameron_heath@standardandpoors.com...
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| Report Type: | Ratings Action
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| Issuer: | Ajax Re Ltd.
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| Sector: | Asset-Backed Securities, Global Issuers, Insurance, Structured Finance
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| Country: | Cayman Islands
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| Region: | Latin America
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
Also from S&P Credit Research
- S&P Corrects, Then Lowers And Withdraws Rating On Ajax Re Ltd.'s Class A Series I Notes $100.00
LONDON (Standard&Poor's) May 11, 2009—Standard&Poor's Ratings Services today reinstated its rating on Ajax Re Ltd.'s class A principal-at-risk variable-rate series I notes, which we withdrew on May 8 due to an administrative error. The reinstated ...
- Research Update: Ajax Re Ltd. Class A Series I Notes Rating And Watch Neg Status Unchanged On Timely Interest Payments $175.00
On March 16, 2009, Standard&Poor's Ratings Services said today that its 'CC' ratings and negative CreditWatch on Ajax Re Ltd.?s Class A principal-at-risk variable-rate Series I notes remain unchanged following the issuer's scheduled interest ...
- Ajax Re Ltd. Class A Series I Notes Rtg, CreditWatch Neg Status Unchanged On Timely Interest Payments $100.00
LONDON (Standard&Poor's) March 16, 2009--Standard&Poor's Ratings Services said today that its 'CC' ratings and negative CreditWatch on Ajax Re Ltd.?s Class A principal-at-risk variable-rate Series I notes remain unchanged following the issuer's ...
- Rating On Ajax Re Ltd.'s Class A Series I Notes Placed On CreditWatch Negative $100.00
LONDON (Standard&Poor's) March 4, 2009—Standard&Poor's Ratings Services today placed on CreditWatch negative its 'CC' credit rating on Ajax Re Ltd.'s class A principal-at-risk series I notes due to an anticipated imminent interest payment default. ...
- Three Natural Peril Cat Bond Ratings Removed From Watch; Affirmed On Timely Interest Payments $100.00
LONDON (Standard&Poor's) Dec. 22, 2008--Standard&Poor's Ratings Services said today that it affirmed its ratings on three natural peril catastrophe bonds (cat bonds). The ratings on Ajax Re Ltd.'s class A principal-at-risk variable-rate series ...
- Research Update: Ajax Re Ltd.'s Class A Series 1 Notes Lowered To 'CC'; Rating Remains On Watch Negative $175.00
On Sept. 30, 2008, Standard&Poor's Ratings Services lowered its rating on Ajax Re Ltd.'s class A principal-at-risk variable-rate series 1 notes to 'CC' from 'BB'. The rating remains on CreditWatch with negative implications. We placed the rating ...
- Ratings Assigned In Aspen Insurance's First Cat Bond Covering California Earthquakes $100.00
LONDON (Standard&Poor's) April 26, 2007ùStandard&Poor's Ratings Services said today that it assigned its senior secured debt rating of 'BB' to the $100,000,000 Series 1 Class A principal at-risk variable rate notes issued under the newly established ...
