Fitch Ratings on Everest Re: BBB+, Stable

Fitch Ratings yesterday assigned a 'BBB+' trust preferred rating to Everest Reinsurance Holdings, Inc (Everest Holdings)'s $200 million 7.85% trust preferred securities, due November 15, 2032. The Rating Outlook is Stable. As noted in Fitch's recent rating affirmation of Everest Holdings, long term issuer and senior debt rating of 'A-', the ratings are based on Everest Holding's operating subsidiaries' consistent performance and good market position since its spin-off from Prudential Insurance Company in 1995. The company has demonstrated good underwriting results relative to peers as reflec...