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Article: A.M. Best Affirms Rating of Hannover Re.
- Article from:
- Business Wire
- Article date:
- August 21, 2002
CopyrightCOPYRIGHT 2002 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
OLDWICK, N.J.--(BUSINESS WIRE)--Aug. 21, 2002
A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) of Hannover Ruckversicherungs AG and other group rated entities (see list below).
At the same time, A.M. Best downgraded to "a" from "a+" the USD 400 million subordinated debt issued by Hannover Finance Inc. and guaranteed by Hannover Re and the USD 350 million subordinated debt issued by Hannover Finance S.A. and guaranteed by Hannover Re. A.M. Best has removed the under review status with developing implications on all these ratings and assigned a negative outlook.
These rating actions reflect ...