| Fitch Rates $796MM Home Equity Loan Trust 2007-HSA3
The 'AAA' rating on the notes reflects our assessment of the likelihood of repayment of principal and interest based on the bond insurance policy provided by MBIA Insurance Corporation (MBIA), whose claims paying ability is rated 'AAA' by Fitch. The Group I notes have 4.95% initial and 7.85% target over-collateralization (OC). The Group II notes have 0.90% initial and 3.10% target OC. Both loan groups benefit from monthly excess cash flow to absorb losses. In addition, there is financial guaranty insurance policy for each group issued by MBIA Insurance Corporation (AAA) with respect to the notes, in favor of the indenture trustee. The policy will unconditionally and irrevocably guarantee the payments of interest on the Notes at the applicable note rate, will cover the principal portion of any losses allocated to the Notes, after taking into account payments from excess interest and any reduction in the overcollateralization amount, and will guarantee amounts due on the Notes on their maturity date.
AM Best Assigns Ratings to Jefferson Insurance Company
OLDWICK, N.J.--(BUSINESS WIRE)--June 6, 2007--A.M. Best Co. has assigned a financial strength rating of A (Excellent) and an issuer credit rating of "a+" to Jefferson Insurance Company (Jefferson) (New York). The outlook is stable, in line with that of the parent company, Elvia Reiseversicherungs-Gesellschaft AG (Elvia). The ratings reflect the full rating enhancement from the explicit support in the form of a 90% quota share reinsurance agreement with Elvia. Elvia acquired Jefferson from Allianz Global Risks US Insurance Company on April 1, 2007 to front the U.S. travel insurance business (mainly trip cancellation business), previously fronted by another insurance company and ceded to Elvia. A.M. Best expects the newly acquired subsidiary to generate gross premiums written of approximately USD 25 million in 2007 and to grow significantly in 2008 once the existing fronting arrangement has been phased out.
Going Once, Going Twice, Sold: Delta Launches SkyMiles Online Auction
ATLANTA, June 6, 2007 (PRIME NEWSWIRE) -- Delta Air Lines (NYSE:DAL) SkyMiles(r) members may now bid miles for a variety of merchandise, such as unique gifts, exclusive event opportunities and exciting adventure packages, through the new SkyMiles Online Auction. "We're constantly seeking creative ways to engage our customers and offer additional mileage-redemption opportunities," said Jeff Robertson, managing director of the SkyMiles program. "The SkyMiles Online Auction is another great step as we enrich the Delta experience and add value to the program for all SkyMiles members." Items available in the upcoming SkyMiles Online Auction include: Members can access the SkyMiles Online Auction by logging on to delta.com/skymilesauction using their SkyMiles number and PIN.
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