A.M. Best Co. has assigned indicative ratings of "bbb+" senior debt, "bbb" subordinated debt and "bbb-" preferred stock to Platinum Underwriters Holdings, Ltd.'s (Platinum) [NYSE:PTP] (Bermuda) recently filed $750 million universal shelf offering. A.M. Best has also affirmed the "bbb+" rating of the group's equity security units issued by Platinum Underwriters Finance, Inc. (Delaware) and guaranteed by Platinum. The A (Excellent) financial strength ratings of Platinum's reinsurance operating companies are unaffected by this action. The outlook for all ratings is stable.
Net proceeds from an...
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