Fitch rates Florida Wind bond issues

Rating agency Fitch has rated some of the notes issued by the Florida Windstorm Underwriting Association (FWUA), assigning an A senior debt rating to the US$750mn senior secured pre-event note issue (series 1997A), as well as affirming the AAA rating of the association’s US$1.0bn secured pre-event note issue (series 1999A). The triple-A notes are insured by MBIA with an unconditional guarantee of principal and interest.