Following a Change in Methodology, A.M. Best Downgrades Indicative Shelf Rating Of Aspen Insurance Holdings Limited

  Following a Change in Methodology, A.M. Best Downgrades Indicative Shelf   Rating Of Aspen Insurance Holdings Limited  Business Wire  LONDON -- May 9, 2014  A.M. Best has downgraded to “bb+” from “bbb-” the indicative debt rating under the universal shelf registration of Aspen Insurance Holdings Limited (Aspen) (Bermuda) in respect of junior subordinated debt. The issuer credit rating (ICR) of “bbb” of Aspen and all other debt ratings of Aspen remain unchanged.  The rating action follows changes to A.M. Best’s methodology as detailed in the methodology paper “Insurance Holding Company and Debt Ratings”, which became effective on 6 May 2014. Aspen’s obligations under any junior subordinated debt to be issued under the shelf registration would rank junior to other specific senior debt securities issued or to be issued by Aspen. Therefore, the indicative debt rating of junior subordinated debt has been downgraded by one notch, in line with the revised methodology’s guidance on notching for junior subordinated debt.  Financial leverage and interest coverage ratios for Aspen remain within A.M. Best’s tolerance levels. The indicative debt rating of the junior subordinated debt is notched down from Aspen’s issuer credit rating (ICR). Downward or upward rating actions will likely move in line with Aspen’s ICR.  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  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.  This rating announcement has been issued by A.M. Best Europe – Rating Services Limited, which 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         Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.  Contact:  David Drummond Senior Financial Analyst +(44) 20 7397 0327 or Rachelle Morrow Senior Manager, Public Relations +1 908-439-2200, ext. 5378 or Catherine Thomas Director, Analytics +(44) 20 7397 0281 or Jim Peavy Assistant Vice President, Public Relations +1 908-439-2200, ext. 5644  
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