Standard & Poor’s Ratings Services has raised its letter of credit (LOC) rating on Blue Ocean Re Ltd.’s $50 million LOC facility to “A-1+” from “A-1.” In April S&P affirmed its “BBB+” senior secured debt rating on Blue Ocean’s senior secured $75 million loan (term loan). “The differences in ratings reflect the probability of the debt becoming impaired,” S&P noted. It also indicated that the “upgrade and affirmation” resulted following S&P’s “analysis of Blue Ocean’s latest business plan,” according to credit analyst James Brender
Was this article valuable?
Here are more articles you may enjoy.
Chubb: Cyber Claim Severity Nearly Doubled for Large Businesses 
Florida Man Faked Brain Injury for Years in Attempt to Gain $6M in Insurance 
Viewpoint: Insurance Broker Valuations – The Elephant in the Room 
Viewpoint: How Will the Middle East War Affect the Insurance Sector? 
