DREWCAT Capital Ltd.'s $50M Notes Issue Rated 'BB-' - S&P Global Ratings’ Credit Research

DREWCAT Capital Ltd.'s $50M Notes Issue Rated 'BB-'

DREWCAT Capital Ltd.'s $50M Notes Issue Rated 'BB-' - S&P Global Ratings’ Credit Research
DREWCAT Capital Ltd.'s $50M Notes Issue Rated 'BB-'
Published Jul 05, 2006
Published Jul 05, 2006
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (Standard&Poor's) July 5, 2006--Standard&Poor's Ratings Services said today that it assigned its 'BB-' senior debt rating to DREWCAT Capital Ltd.'s $50 million principal at-risk variable-rate notes, which are due Dec. 28, 2006. The proceeds from the issuance of the notes will provide Dominion Resources Inc. (BBB/Stable/A-2) with a source of parametric coverage for hurricanes in three hurricane calculation locations on a per-occurrence basis over a six-month period. DREWCAT is an exempted company incorporated under the laws of the Cayman Islands, the sole business of which will consist of the issuance of the notes, entering into the transaction agreements, and the performance of activities related thereto. After issuing the notes, DREWCAT invested the proceeds in

  
Report Type:

Ratings Action

Issuer
DREWCAT Capital Ltd.
Sector
Global Issuers, Structured Finance
Country
Region
United States
Format:
HTML HTML
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "DREWCAT Capital Ltd.'s $50M Notes Issue Rated 'BB-'" Jul 05, 2006. Alacra Store. Jun 22, 2017. <http://www.alacrastore.com/s-and-p-credit-research/DREWCAT-Capital-Ltd-s-50M-Notes-Issue-Rated-BB-518928>
  
APA:
S&P Global Ratings’ Credit Research. (). DREWCAT Capital Ltd.'s $50M Notes Issue Rated 'BB-' Jul 05, 2006. New York, NY: Alacra Store. Retrieved Jun 22, 2017 from <http://www.alacrastore.com/s-and-p-credit-research/DREWCAT-Capital-Ltd-s-50M-Notes-Issue-Rated-BB-518928>
  
US$ 150.00
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.