S&P Analyst: Swap Insurance Helped Credits Survive Katrina Downgrades

Ackerman, Andrew
June 2006
Bond Buyer;6/28/2006, Vol. 356 Issue 32412, p6
Trade Publication
The article reports on the role of insurance of swap agreements to help credits survive the downgrading of ratings in the U.S. A financial analyst claims that the swap insurance was able to limit the impact of the downgrades on the issuers that had been devastated by the Hurricane Katrina. The author explains that swap insurance is similar to bond insurance where an insurer agrees to pay the counterparty on behalf of the issuer if the issuer fails to pay.


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