A.M. Best Assigns Issue Credit Rating to Weston2038 LLC’s Credit-Linked Note
The CLN is in exchange for a Variable Funding Surplus Note issued by
At the time of the issuance of the CLN, Wilton Reassurance will provide capital of approximately
The rating assigned represents A.M. Best’s current opinion as to the issuer’s ability to meet its financial obligations to the noteholders when due. The rating primarily takes into consideration the following: Hannover Re Bermuda’s Long-Term Issuer Credit Rating (Long-Term ICR) of “aa” as the swap counterparty to Weston2038; netting arrangements among transaction parties; the thin capitalization of Weston2038; Wilton Reassurance’s Long-Term ICR, as the entity provides support of the 250%
The Long-Term IR could be upgraded or downgraded and/or the outlook revised if material changes occur in the financial condition and ratings of
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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