Cat Fund Eyes 4 Firms For VR Deal

Sigo, Shelly
June 2006
Bond Buyer;6/9/2006, Vol. 356 Issue 32399, p1
Trade Publication
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.


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