A.M. Best Co. has affirmed the financial strength ratings of the operating subsidiaries of ACE Ltd. (ACE) (Bermuda) [NYSE:ACE]. Concurrently, A.M. Best has downgraded ACE Ltd.'s debt securities and the securities guaranteed by ACE Ltd. All ratings have been assigned stable outlooks.
ACE's senior debt rating was downgraded to "bbb+" from "a", subordinated notes were downgraded to "bbb" from "a-" and trust preferred securities were downgraded to "bbb-" from "a-". Additionally, A.M. Best has assigned a "bbb-" rating to ACE's recently issued $575 million (including over-allotment feature) of cu...
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