Summary of PRIMUS GUARANTY LTD

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PRS > SEC Filings for PRS > Form 8-K on 3-Jun-2009

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Form 8-K for PRIMUS GUARANTY LTD

3-Jun-2009

Other Events

Item 8.01. Other Events

On May 4, 2009, Primus Financial Products, LLC ("Primus Financial"), a wholly owned subsidiary of Primus Guaranty, Ltd., requested that Standard & Poor's Ratings Services ("S&P") withdraw its ratings on Primus Financial's counterparty ratings and outstanding obligations, citing business reasons. On June 2, 2009, S&P issued a press release announcing a downgrading of such ratings, followed by the withdrawal of the ratings. With the removal of the S&P ratings Primus Financial will no longer have any counterparty ratings or ratings on its outstanding debt securities or its preferred shares.

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