Windy season fails to blow away downgrade pressure


There was something of a 'groundhog day' atmosphere at Monte Carlo this year, as once again, a ratings downgrade dominated the event. The vigour of the hurricane season was obviously also very much on everyone's minds. However, beyond these 'hot topics' there were also some more fundamental business issues to discuss.Standard and Poor's downgrade of Converium to BBB from A- had heightened drama, coming as it did, on the Friday evening before the Rendez-Vous commenced on the Sunday. S&P's com