Hyperion Insurance Group (Hyperion) has recently placed a $250 million term loan B, using part of the proceeds to repay $145 million of its existing debt, and about $68 million to fund the acquisition of specialist underwriting agency PGI Commercial--a U.S.-based property/casualty program manager. We are therefore assigning our 'B' corporate credit rating to Hyperion. At the same time, we are assigning our 'B' issue rating to the $250 million term loan B issued by the group's subsidiary, Hyperion Finance 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. LONDON (Standard&Poor's) Nov. 15, 2013--Standard&Poor's Ratings
