news / article
Moody's Rating Action on Primus Financial Products
October 01, 2008
Moody's Investors Service announced today that it has (i) downgraded the counterparty rating of Primus Financial Products LLC ("Primus Financial"), and its Subordinated Deferrable Interest Notes, Series A and (ii) placed on review for possible downgrade Subordinated 2005 Deferrable Interest Notes, Series A-1, Subordinated 2005 Deferrable Interest Notes, Series B, and Perpetual NC-10 Floating Rate Cumulative Preferred Securities (Series I and Series II). Moody's also downgraded to Ba1, from Baa1, the senior unsecured and issuer ratings of Primus Guaranty, Ltd., and placed both ratings under review for further possible downgrade.