Moody’s lowers Montpelier Re’s ratings
Moody's Investors Service has announced that it has lowered the credit ratings of Montpelier Reinsurance Holdings (senior debt to Baa3 from Baa2), and the insurance financial strength rating of Montpelier Reinsurance to Baa1 from A3. These rating actions conclude a review initiated on September 12, 2005 and reiterated on September 23, 2005. The outlook is stable.
According to Moody's, the downgrade of MRH reflects its substantial losses recorded from recent hurricanes, which represent 66% of shareholders' equity as of June 30, 2005 and over two years worth ofOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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