Swiss Re Insurance-Linked Fund Management

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Avondale Securities placed back on CreditWatch by S&P

21st December 2011

Well that didn’t last long. The life insurance-linked notes issued by Avondale Securities SA. have been placed back on CreditWatch negative by ratings agency Standard & Poor’s after the long-term counterparty credit rating of the Bank of Ireland was placed on CreditWatch negative.

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Avondale Securities removed from CreditWatch by S&P

14th October 2011

Ratings agency Standard & Poor’s have removed the ratings of two tranches of life insurance-linked notes issued by Avondale Securities SA. from CreditWatch as a correction to an administrative error. The notes issued by Avondale Securities were designed to transfer a block of life insurance risk to the capital markets through securitisation to allow the […]

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Avondale Securities junior tranche downgraded by Moody’s

27th July 2011

Avondale Securities SA., Luxembourg domiciled issuer of  life insurance-linked notes issued on behalf of the Bank of Ireland, has been receiving a lot of attention from ratings agencies over the past year. The economic and sovereign debt troubles of the Irish economy and the links to the deal via the Bank of Ireland have seen […]

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Avondale Securities life insurance-linked securities downgraded by S&P

4th February 2011

Standard & Poor’s have today downgraded the ratings of two tranches of life insurance-linked notes issued by Avondale Securities SA. The notes issued by Avondale Securities, a special purpose vehicle set up in Luxembourg by the Bank Of Ireland, were designed to transfer a block of life insurance risk to the capital markets through securitisation […]

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Moody’s downgrades Avondale life insurance-linked securities

23rd December 2010

Earlier this month we wrote that Moody’s Investor Services had placed the senior tranche of notes from the Avondale Securities SA life insurance-linked securities on review for potential downgrade due to their close link to Ireland and the Bank of Ireland (who are facing economic difficulties). Now Moody’s has taken the next step and downgraded […]

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