Standard & Poor's has assigned preliminary credit ratings to the series 2011-1 class A and B notes and the series 2011-2 class A notes issued under the principal-at-risk variable-rate note program Atlas VI Capital Ltd.
This will be the third and fourth series of notes issued under this program, which is sponsored by SCOR Global P&C SE.
The series 2011-1 Class A and B notes will be exposed to U.S. hurricane and earthquake risks between January 2012 and December 2014.
The 2011-2 class A notes will be exposed to Europe windstorm risk (in selected countries and regions in northern and western Europe), between December 2011 and March 2015.
The Class A and B notes under the series 2011-1 structure have been rated 'B' and 'B+' respectively by S&P. The Class A notes under the 2011-2 series of notes have been rated 'B' by the rating agency.
Aon Benfield Securities and Natixis are joint bookrunners on the deal.