A.M. Best Assigns Rating to PartnerRe's Series F Preferred Shares
A.M. Best Assigns Rating to PartnerRe's Series F Preferred Shares
OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best Co. has assigned a debt rating of "bbb" to the $250 million 5.875% Series F non-cumulative redeemable preferred shares of PartnerRe Ltd. (Hamilton, Bermuda) (NYS: PRE) . The outlook assigned is negative.
The proceeds from the issuance will be used by PartnerRe Ltd. towards the repurchase of its Series C preferred securities. Once the redemption is completed, the overall capital structure of PartnerRe Ltd. will be essentially the same.
The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best's rating process and contains the different rating criteria employed in the rating process. Best's Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visitwww.ambest.com.
Copyright © 2013 by A.M. Best Company, Inc.ALL RIGHTS RESERVED.
A.M. Best Co.
Greg Reisner
Managing Senior Financial Analyst
908-439-2200, ext. 5224
greg.reisner@ambest.com
or
Peter Dickey
Assistant Vice President
908-439-2200, ext. 5053
peter.dickey@ambest.com
or
Rachelle Morrow
Senior Manager, Public Relations
908-439-2200, ext. 5378
rachelle.morrow@ambest.com
or
Jim Peavy
Assistant Vice President, Public Relations
908-439-2200, ext. 5644
james.peavy@ambest.com
KEYWORDS: United States Bermuda Europe North America Caribbean New Jersey
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