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S&P removes CC ratings of CIFG Guaranty and related firms.

BANKING AND CREDIT NEWS-17 February 2010-S&P removes CC ratings of CIFG Guaranty and related firms(C)1994-2010 M2 COMMUNICATIONS http://www.m2.com

17 February 2010 - S&P on Tuesday pulled out its CC ratings on US financial guaranty and credit protection group CIFG Guaranty and related companies GIFG Europe, and CIFG Assurance North America Inc.

The rating withdrawal was carried out at the request of CIFG Guaranty.

Prior to the withdrawal, the ratings and "negative" outlook reflected the sharp declines in statutory surplus levels at these companies, which leads to regulatory intervention.

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Publication:M2 Banking & Credit News (BCN)
Date:Feb 17, 2010
Words:105
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