A.M. Best Assigns Rating to RenaissanceRe Holdings Ltd.’s Series E Preferred
OLDWICK, N.J. -- May 21, 2013
A.M. Best Co. has assigned a debt rating of “bbb” to the $275 million 5.375%
Series E non-cumulative redeemable preferred shares of RenaissanceRe Holdings
Ltd. (RenRe) (Bermuda) (NYSE: RNR). The assigned outlook is stable.
The proceeds from the issuance are expected to be used by RenRe to repurchase
the outstanding Series D preferred securities and a portion of the Series C
preferred securities. Financial leverage and coverage measures remain within
A.M. Best’s guidelines for the assigned rating.
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
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.
A.M. Best Co.
Managing Senior Financial Analyst
(908) 439-2200, ext. 5224
Assistant Vice President
(908) 439-2200, ext. 5053
Senior Manager, Public Relations
(908) 439-2200, ext. 5378
Assistant Vice President, Public Relations
(908) 439-2200, ext. 5644
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