TITLE

S&P Defends Proposed New Criteria

AUTHOR(S)
McGee, Patrick
PUB. DATE
February 2011
SOURCE
High Yield Report;2/7/2011, Vol. 22 Issue 6, p18
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article reports on the defensive stance taken by Standard & Poor's on its proposed ratings methods for bond insurers. In a conference call, Assured Guaranty Chief Executive Dominic Frederico criticized the proposal and suggested the rating agency had left reality out of the new credit equations. The agency explains their decision to exclude unearned premium reserves in the proposal when performing a leverage test on an insurer's book. Frederico points out the deficiency of the proposal although he applauds the leverage test idea.
ACCESSION #
57957379

 

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