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

9 September 2010

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Ratings upgraded on Vega Capital cat bonds

21 July 2010

Ratings agency Standard & Poor's has raised credit ratings on Swiss Re's Vega Capital catastrophe bonds after two years have passed without any risk events triggering capital calls on the bonds.

So far noteholders have been notified of just one event, Hurricane Ike, but this is not expected to breach the per-event trigger on the bonds.

Both the class A and class B tranches of the Vega Capital multi-peril bonds are now rated A+, up from ratings of A and...

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