Scottish Re $600m rescue prompts positive agency response
Troubled Life reinsurer Scottish Re has announced a $600m equity infusion to stave off its liquidity crisis prompting an immediately positive reaction from ratings agency Standard & Poors (S&P) and more guarded encouragement from Fitch.
MassMutual Capital and affiliates of Cerberus Capital Management will each invest $300m in the form of newly-issued convertible preferred shares resulting in a total new equity investment of $600m for
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