Recent Rating Reports Assign Negative Outlook On Citizens Property Insurance Company Series 2009A Bond Issuance
Apr 29, 2009
Moody’s Investor Service and Standard and Poor’s Rating Service have issued negative outlook rating reports for Citizens Property Insurance Corporation (“Citizens”) and its upcoming issuance of $2.5 billion in Series 2009A and Series 2009A-2 bonds.
In its March 30 rating report, Moody’s Investor Service assigned a negative outlook to Citizens and a long-term A2 rating to its upcoming sale of High-Risk Account Senior Secured Bonds Series 2009A. A short-term rating of MIG 1 also was assigned to the expected issuance of High-Risk Account Senior Secured Short-Term Notes Series 2009A-2.
On April 14, Standard and Poor’s Ratings Services assigned an A+ long-term rating with a negative outlook to Citizens’ Series 2009-A Senior Secured bonds and an SP-1+ rating to Citizens’ Series 2009A-2 Senior Secured Short-Term Notes.
The attached rating reports from Moody’s and Standard and Poor’s have been provided for your review courtesy of Thomas L. Burt, CFP® CIMA® ChFC® CLU® of Morgan Stanley.
Should you have any questions or comments, please contact Colodny Fass.
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