Fitch Withdraws Scottish Re Ratings.CHICAGO -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has downgraded Scottish Re Group Limited's (SKRRF) Issuer Default Rating (IDR IDR In currencies, this is the abbreviation for the Indonesian Rupiah. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) to 'CC' from 'CCC'. Fitch affirmed the Insurer Financial Strength (IFS) of Scottish Re (U.S.) Inc. at 'CCC'. Fitch is withdrawing all SKRRF ratings. Fitch will not provide analytical coverage on SKRRF or its subsidiaries. Fitch has downgraded and withdrawn the following ratings: Scottish Re Group Ltd. --IDR to 'CC' from 'CCC'. Fitch has affirmed and withdrawn the following ratings: Scottish Re (U.S.) Inc. --IFS rating at 'CCC'. Fitch has withdrawn the following ratings: Scottish Annuity & Life Insurance Company --IFS rating at 'CCC'. Stingray stingray: see ray. stingray or whip-tailed ray Any of various species (family Dasyatidae) of rays noted for their slender, whiplike tail with barbed, usually venomous spines. Pass-Through Trust --$325 million 5.902% collateral facility securities due Jan. 12, 2015 at 'CCC/RR4'. Scottish Re Group Ltd. --7.25% non-cumulative perpetual preferred stock at 'C/RR6'. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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