German Agency Assigns AA+ Rating to Life Settlement Solutions; One of Eight Life Settlement Companies to Receive Rating.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- The German rating agency Scope Group has assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. an overall quality rating score of AA+ ("excellent quality") to Life Settlement Solutions. Scope assigned ratings to eight life settlement companies and is thus far the only rating agency in the world to offer quality ratings of U.S. life settlement companies. The rating provides an independent evaluation of the companies that are service providers for German closed-end closed-end adj. Issuing a fixed number of shares that can be traded publicly but are not redeemable by the issuer: a closed-end investment company. life settlement funds and other institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. . The rating results recognize LSS LSS Lutheran Social Services LSS Logistics Support System LSS Lean Six Sigma LSS Line Sharing Service (telecommunications, Australia) LSS Legal Services Society (Canada) LSS Law Students' Society as one of the "four largest companies," with a careful, well-structured process management and partner network, able to acquire large policy portfolios for institutional investors. "The life settlement industry has experienced a tremendous amount of growth in the past 12 months," said Larry Lar´ry n. 1. Same as Lorry, or Lorrie. Simon, president and founder of LSS. "The volume of issued closed-ended funds in the German market alone is expected to exceed $1 billion this year, a marked increase over the $650 million of 2003. The rating is extremely important for a number of reasons. First, there is an expectation of new capacity entering the market next year. Perhaps more importantly, the market is young and the performance of these closed-ended funds relies heavily on the quality of the life settlement company." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the report from Scope, the overall rating reflects the excellent quality of LSS's services to institutional clients. LSS received a score of AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. ("best quality") for elements such as company history and structure, market standing, investor structure, credit standing, financial strength, shareholder structure, operations and process management, compensation, and litigation/conflicts. About LSS: Life Settlement Solutions, Inc. is a life settlement provider, offering owners of qualifying life insurance policies the opportunity to convert their life insurance policies into cash. A pioneer in the non-viatical life settlement field, LSS and its management represent the second largest and most experienced institutionally funded life settlement company in the market. LSS and its management have purchased life insurance policies with approximately $1 billion aggregate face-value to date. About Scope Group: Scope Group is Germany's most respected, widely utilized source for open- and closed-ended fund ratings. The company publishes market-leading ratings and commentary that have reached 30 million people in 2003. Scope is equivalent to U.S. mutual fund rating agencies such as Standard & Poor's and Moody's. |
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