Best Rates Montpelier's $500M Self Offering 'bbb'

A.M. Best Co. has assigned indicative ratings of "bbb" senior unsecured debt, "bbb-" subordinated debt and "bb+" preferred stock to Montpelier Re Holdings Ltd.'s (Montpelier) [NYSE:MRH] (Bermuda) recently filed $500 million universal shelf offering. A.M. Best has also affirmed the debt rating of "bbb" on Montpelier's $250 million 6.125% senior unsecured note, due 2013. Concurrently, A.M. Best has assigned an indicative debt rating of "bb+" preferred securities to MRH Capital Trust I (U.S.), which will be fully guaranteed by Montpelier. The outlook for all the ratings is stable. The shelf offer...