S&P gives Eurus notes BB

Standard & Poor's said it assigned its BB senior secured debt ratings to the $150 million principal at-risk variable-rate notes issued by Eurus Ltd.

The agency said that this transaction allows certain Hannover Re companies to obtain fully collateralized protection against high severity losses incurred from European windstorms.

Eurus invested the $150 million issuance proceeds in high-quality assets, which were placed in a collateral account, the agency added.

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