Rating Roundup: Genworth; ZFS Notes

May 14, 2007

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.