Swiss Re credit reinsurance securitisation deal has ratings cut, may be triggered
20th August 2009Standard & Poor’s have today lowered their rating on Crystal Credit, a securitization transaction structured similarly to a catastrophe bond. Crystal Credit was issued by Swiss Re in 2006 to provide themselves with indemnity against losses on their credit reinsurance portfolio. S&P now say the notes will likely be triggered due to increasing claims and […]
Read the full article