Ratings agency AM Best has assigned indicative ratings of bbb- senior debt, bb- subordinated debt, and bb preferred stock to the Cayman Island-based Scottish Re Group's $750m shelf registration.
It said it has also assigned a bb+ debt rating to trust preferred securities, which may be issued by Scottish Holdings Statutory Trust II and III and are special purpose vehicles.
In addition, AM Best said it had affirmed all existing debt ratings, and assigned them a stable outlook.
