Five counterparties, as at 31 March 2026
resolveRating — mapped to credit quality steps, then aged
An undated rating
| Counterparty | AM Best | S&P | Rated as of | Step used | From |
|---|---|---|---|---|---|
| Meridian Re | A+ | AA- | 2025-11-14 | step 1 | sp |
| Northpoint Re | A | A+ | 2024-02-02 | unrated | — |
| Castellan 2488 | A | A | undated | unrated | — |
| Kestrel Re | B++ | BBB+ | 2026-01-20 | step 3 | sp |
| Aurora Re | A- | ZZ9 | 2026-02-11 | step 2 | am_best |
Usable ratings
3
Treated as unrated
2
Unrecognised strings
1
Why the answer comes with its reasoning
- •Ratings dated 2025-11-14, 137 days old at 2026-03-31 — within the limit.
- •2 usable ratings (AM Best A+=1, S&P AA-=1). The less favourable of the two most favourable governs: S&P AA- → step 1.
Refused
An undated rating cannot be shown to be current, so by default it does not count. A rating that may be four years old is not evidence of present credit quality, and a capital calculation that leaned on it would be citing a fact nobody can date. A carrier whose feed genuinely lacks dates can switch that off — and the switch is on the page rather than in a config file, because it is a decision with a consequence.
Stated limit
Aurora carries ZZ9 on the S&P scale, which is not a rating. It is reported as unrecognised rather than silently dropped or mapped to something plausible — a bad string in a rating feed is a data problem, and the one thing it must not do is quietly become a credit quality step.