TITLE

Cat Fund Eyes 4 Firms For VR Deal

AUTHOR(S)
Sigo, Shelly
PUB. DATE
June 2006
SOURCE
Bond Buyer;6/9/2006, Vol. 356 Issue 32399, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Hurricane Catastrophe Fund officials in Florida are planning to recommend four firms including Goldman Sachs & Co., and Merrill Lynch & Co. Inc. to implement a variable-rate debt transaction. After implementation, insurance companies will be eligible for reimbursement of up to $2.8 billion in the event of future hurricanes. Fitch Ratings has assigned a AA rating and stable outlook to the Catastrophe Fund's Series 2006A post-event bonds. Moody's Investors Service Inc. has assigned AA3 ratings to the 2006A bonds.
ACCESSION #
21175763

 

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