Hyperion Insurance Group (Hyperion) is seeking to place a $250 million term loan B, using the proceeds to repay $153 million of its existing debt (including its Windsor Loan Note), and about $74 million to fund an acquisition that it expects to complete soon. We are therefore assigning our preliminary 'B' corporate credit rating to Hyperion. At the same time, we are assigning our preliminary 'B' issue rating to the $250 million term loan B to be issued by the group's subsidiary, Hyperion Financial S.a.r.l. The stable outlook reflects our expectation that the company will continue to grow organically at a healthy rate and improve profitability as it expands its geographic and customer base. On Sept. 16, 2013, Standard&
