Standard & Poor’s Ratings Services has assigned an “A” senior unsecured debt rating to Genworth Financial Inc.’s $600 million senior unsecured notes due in May of 2009. The notes were originally issued in May 2004 as part of an equity unit offering and are being remarketed pursuant to the terms of the original agreement.
Standard & Poor’s Ratings Services affirmed ZFS Finance (USA) Trust IV and ZFS Finance (USA) Trust V notes ratings at “BBB.” Zurich Financial Services, the ultimate holding company of the ZFS Group and Zurich Group Holding, the Swiss-based intermediate holding company of the ZFS Group, have signed a support agreement for the benefit of each trust. Although the agreement is not a guarantee, the ZFS Finance (USA) trusts satisfy S&P’s criteria for special-purpose entities.
Was this article valuable?
Here are more articles you may enjoy.
The Big Dog Is Off the Tech Porch: State Farm as ‘Next Gen Good Neighbor’
Wall Street Watchdogs Pause Some Cyber Exams After Mythos Shock
Verisk Report Shows Drop in US Reconstruction Costs in 2Q
Verisk, insured.io, Omni and TruVideo Rolling out New Tech