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

19 May 2012

Fitch downgrades Signum

21 December 2011

Ratings agency Fitch has downgraded the $200mn excess mortality securitisation Signum Finance in line with its rating on the notes' guarantor Goldman Sachs.

The Signum notes are now rated A, down from an A+ rating, with a stable outlook. This follows Fitch's downgrade of investment bank Goldman Sachs Group in October.

The investment bank's rating was the highest risk factor or the "weakest link" in Fitch's analysis of the Signum notes. Collateral provided by Signum investors was placed in 15-year...


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