RDN » Topics » 3. Credit Quality of Insured Risks (Risk in Force/Net Par Outstanding-Financial Guaranty)

These excerpts taken from the RDN 10-K filed Mar 14, 2008.

3. Credit Quality of Insured Risks (Risk in Force/Net Par Outstanding—Financial Guaranty)

The following table identifies our net par outstanding as of December 31, 2007 and 2006 by credit ratings:

 

     As of December 31  
     2007     2006  

Credit Rating (1)

   Net Par
Outstanding
   Percent     Net Par
Outstanding
   Percent  
     ($ in billions)  

AAA

   $ 50.2    43.3 %   $ 43.2    41.5 %

AA

     20.4    17.6       19.4    18.7  

A

     22.3    19.2       20.2    19.4  

BBB

     20.5    17.7       18.3    17.6  

BIG (2)

     1.8    1.5       1.4    1.4  

Not rated

     0.8    0.7       1.5    1.4  
                          

Total

   $ 116.0    100.0 %   $ 104.0    100.0 %
                          

 

(1) Indicated ratings reflect the highest rating assigned to the underlying obligation from the three major rating agencies (S&P, Moody’s and Fitch), or, if no such rating has been assigned, our rating estimate of the obligation utilizing rating agency models and methodologies to the extent available. Our rating estimates are subject to revision at any time and may differ from the credit ratings ultimately assigned by the three rating agencies.
(2) Below investment grade.

3. Credit Quality of Insured Risks (Risk in Force/Net Par Outstanding—Financial Guaranty)


The following table identifies our net par outstanding as of December 31, 2007 and 2006 by credit ratings:

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   As of December 31 
   2007  2006 

Credit Rating (1)

  Net Par
Outstanding
  Percent  Net Par
Outstanding
  Percent 
   ($ in billions) 

AAA

  $50.2  43.3% $43.2  41.5%

AA

   20.4  17.6   19.4  18.7 

A

   22.3  19.2   20.2  19.4 

BBB

   20.5  17.7   18.3  17.6 

BIG (2)

   1.8  1.5   1.4  1.4 

Not rated

   0.8  0.7   1.5  1.4 
               

Total

  $116.0  100.0% $104.0  100.0%
               

 





(1)Indicated ratings reflect the highest rating assigned to the underlying obligation from the three major rating agencies (S&P, Moody’s and Fitch), or, if no such rating has
been assigned, our rating estimate of the obligation utilizing rating agency models and methodologies to the extent available. Our rating estimates are subject to revision at any time and may differ from the credit ratings ultimately assigned by the
three rating agencies.




(2)Below investment grade.

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Mar 14, 2008
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