Ratings agency Standard & Poor's (S&P) has downgraded American Family Mutual 's Mariah Re 2010-1 cat bond as the loss tally from May's Joplin tornado reached 88 percent of the $300mn attachment point on the notes.
Ratings agency Standard & Poor's (S&P) has downgraded American Family Mutual 's Mariah Re 2010-1 cat bond as the loss tally from May's Joplin tornado reached 88 percent of the $300mn attachment point on the notes.