XL downgraded by Fitch
Fitch Ratings has downgrades Bermudian (re)insurer XL Capital and its property/casualty (re)insurance subsidiaries, including the Issuer Default Rating (IDR) for XL to 'BBB+' from 'A', and the Insurer Financial Strength (IFS) rating of its core operating companies to 'A' from 'A+'. The ratings remain on 'rating watch negative'.
"The rating action follows XL's announcement that the company anticipates the estimated mark-to-market decline in its investment portfolio through November 2008 to be largely in line with the $1Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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