A.M. Best Assigns Debt Rating to Subordinated Notes Issued by Brit Insurance Holdings PLC.OLDWICK, N.J. -- A.M. Best Co. has assigned a "bbb-" rating to the USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 15 million floating rate subordinated notes due in April 2034, issued by Brit Insurance Brit Insurance Holdings plc (LSE: BRE) is a London-based general insurance and reinsurance group. It is a member of the London Stock Exchange and a constituent of the FTSE 250 Index. Market capitalisation was over £850m as of mid-2005. Holdings PLC (United Kingdom) (BIH BiH Bosnia and Herzegovina BIH Black Infant Health BIH Bureau International de l'Heure (International Time Bureau) BIH Benign Intracranial Hypertension BiH Bosnia i Herzegovina (ISO country code) ). At the same time, an issuer credit rating of "bbb" has been assigned to BIH. The outlook for both ratings is stable. BIH is the ultimate parent of Brit Insurance Limited (United Kingdom) (BIL BIL Brother-In-Law BIL Billion BIL Bilateral BIL Band Interleaved by Line BIL Basic Impulse Level (electrical power switches) BIL Basic Insulation Level (IEC) ). BIL's financial strength rating is currently A (Excellent) reflecting the company's capitalisation and performance prospects, its improved underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. diversification and raised business profile. An offsetting factor is the company's growth plans, which include the risks inherent in commencing underwriting several new classes of business. The outlook on the rating is stable. For a list of A.M. Best's debt ratings, please visit http://www.ambest.com/debtratings/. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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