The Mexican government has sponsored the first ever catastrophebond to cover earthquake risk in that country.
Standard & Poor's Ratings Services said Friday that it hasassigned its “double-B-plus” credit rating to the $160 millionclass A and B principal-at-risk notes issued by CAT-Mex Ltd.
The transaction, sponsored by the Mexican government to financerescue and rebuilding after an earthquake, closed on May 11, atwhich time ratings were assigned to both classes of variable-ratenotes.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
