A.M. Best Co. has assigned indicative ratings of 'bbb' senior debt, 'bbb-' subordinated debt, 'bbb-' preferred securities and 'bb+' preferred stock to Fund American Cos. under the White Mountains Insurance Group Ltd., (NYSE: WTM) Bermuda, existing $1 billion universal shelf registration.
White Mountains unconditionally guarantees the securities issued under the shelf by Fund American, which is the downstream U.S. holding company of White Mountains' U.S.-domiciled insurance operations.
The indicative ratings reflect the prudent capital structure of Fund American following the $2.1 billio...
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