CORRECTION: S&P RMS Cat Bond CreditWatch
Standard & Poor’s has issued a corrective statement concerning one of the cat bond ratings listed in the bulletin it issued on April 18.
The Series 2011-1 Class A notes, rated BB+ (sf)/Watch Neg BB+ (sf) issued by Foundation Re III Ltd., should not have been included, as they were “not modeled by Risk Management Solutions Inc.” S&P said.
Source: Standard & Poor’s
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