Fitch considered three ways in which a Scottish Re downgrade
might affect Ballantyne Re:
Fitch continues to see stability in the continuing care retirement community (CCRC) sector in 2006, supported by strong demand, high occupancy rates and sound management practices; however, downgrades
may outpace upgrades in 2006 due to additional debt issuance to fund large expansion projects.
A sharp rise in defeasance was largely responsible for 483 upgrades, compared to just 17 downgrades
affect approximately $699 million of the outstanding certificates and the affirmations affect approximately $268 million of the outstanding certificates.
Of the six downgrades
, five were in acute care and one was in long-term care.
follow release of a quarterly loss report indicating that Oil Casualty Insurance Ltd.