Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

19 May 2012

Crystal Credit losses rise

6 January 2012

Standard & Poor's has lowered its ratings on a tranche of Crystal Credit notes as investors prepare to pay out sponsor Swiss Re.

The Crystal Credit notes provide indemnity-based reinsurance on a portfolio of credit reinsurance treaties underwritten by Swiss Re between 2006 and 2008.

The agency placed the class B notes on a D rating, down from CC, as it expects noteholders to recoup less than half their EUR81mn principal.

To date, EUR37mn of cash due to class B...

You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.

Purchase


Share:

Insider Publishing Limited - 2nd Floor Asia House, 31-33 Lime Street, London, EC3M 7HT, United Kingdom. The content of this website is copyright of Insider Publishing Limited 2012. All rights reserved Insider Publishing Limited actively monitors usage of our website and products and reserves the right to terminate accounts if abuse occurs.

Π