S&P rates East Lane notes BB+

Standard & Poor's said it assigned its BB+ senior secured debt rating to East Lane Re Ltd.'s $135 million series A 2007-I, variable rate note and its $115 million series B, 2007-I variable rate note issues, both due May 6, 2011.

The two series of notes are the initial offerings under East Lane's variable-rate note program, the agency said.

The agency added that the rating on each series is based on the near-term probability of attachment modeled by AIR Worldwide Corp.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.