Standard & Poor's (S&P) has withdrawn its ratings on various notes issued by Ballantyne Re due to lack of market interest.
S&P said it received a request from the sponsor, Scottish Re (US) to withdraw the ratings in 2010, however opted to maintain unsolicited ratings due to potential market interest.
“It is apparent there is no longer significant market interest in these notes so we are withdrawing our ratings,” said S&P.
“We will maintain a rating on one class of notes--the Class A-2 Series B notes that have a financial guaranty policy in place from Assured Guaranty (UK).