AM Best downgrades Lehman Re
US ratings agency AM Best has downgraded the financial strength rating (FSR) to B (Fair) from A- (Excellent) and issuer credit rating (ICR) to “bb” from “a-” of Bermudian reinsurer Lehman Re, which is the wholly-owned reinsurance subsidiary of collapsed US investment bank Lehman Brothers.
"The decision of Lehman Brothers to petition for Chapter 11 bankruptcy protection has prompted these rating actions," Lehman said.
"While Lehman Re is not included in the bankruptcy petition, A.M
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