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Alterra Capital Holdings Ltd. And Core Subsidiaries Ratings Raised; Outlook Stable Nov 11
Standard & Poors, Nov 2011
Abstract
In our view, the core operating subsidiaries of Alterra Capital Holdings Ltd. (Alterra Capital) have a strong competitive position based on a larger and enhanced operating platform. We believe that the amalgamation of Max Capital Group Ltd. and Harbor Point Ltd. is successfully completed and the ERM platform of the consolidated entity has evolved in accordance with the risk profile of the combined entity. We are raising our financial strength and counterparty credit ratings on the core companies of Alterra Capital to 'A' from 'A-' and the counterparty credit ratings on Alterra Capital Holdings Ltd. and intermediate holding companies to 'BBB+' from 'BBB'. The outlook on the ratings is stable. TORONTO (Standard & Poor's) Nov. 16, 2011--Standard & Poor's Ratings...
Companies mentioned in this report are: Alterra Capital Holdings Ltd.,Alterra Reinsurance USA Inc.,Alterra USA Holdings Ltd.,Alterra Bermuda Ltd.,Alterra Excess & Surplus Insurance Co.,Alterra Europe PLC,Alterra Capital Europe Ltd.,Alterra Capital UK Ltd.,Alterra America Insurance Co.,Alterra Finance LLC
Action: Upgraded
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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