A.M. Best Assigns Rating to Preference Shares Issued by Aspen Insurance Holdings Limited Business Wire LONDON -- April 26, 2013 A.M. Best Europe – Rating Services Limited has assigned a debt rating of “bb+” to the USD 275 million 5.95% preference shares issued by Aspen Insurance Holdings Limited (Aspen) (Bermuda). The outlook for this rating is stable. All other ratings on Aspen entities and related debt issues remain unchanged. A.M. Best expects the net proceeds from the offering to be used to redeem the current USD 230 million Perpetual Preferred Income Equity Replacement Securities and to support other general corporate purposes. The new perpetual preference shares have a coupon rate of 5.95% per annum and are non-callable for ten years. Financial and debt leverage ratios remain within A.M. Best’s tolerance levels. The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology. In accordance with Regulation (EC) No. 1060/2009, the following is a link to required disclosures: A.M. Best Europe - Rating Services Limited Supplementary Disclosure. A.M. Best Europe – Rating Services Limited is a subsidiary of A.M. Best Company. A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com. Copyright © 2013 by A.M. Best Company, Inc. ALL RIGHTS RESERVED. Contact: A.M. Best Europe – Rating Services Limited Reza Pakravan Financial Analyst +(44) 20 7397 0293 firstname.lastname@example.org or Deniese Imoukhuede Senior Financial Analyst +(44) 20 7397 0277 email@example.com or Rachelle Morrow Senior Manager, Public Relations +(1) 908 439 2200, ext. 5378 firstname.lastname@example.org or Jim Peavy Assistant Vice President, Public Relations +(1) 908 439 2200, ext. 5644 email@example.com
A.M. Best Assigns Rating to Preference Shares Issued by Aspen Insurance Holdings Limited
Press spacebar to pause and continue. Press esc to stop.