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A.M. Best Assigns Rating to Allied World Assurance Company Holdings, Ltda?s Senior Notes

^{Published on 2010-11-12 07:00:48 - Market Wire}
 

OLDWICK, N.J.--([ BUSINESS WIRE ])--A.M. Best Co. has assigned a debt rating of abbba to the recently issued $300 million 5.5% senior unsecured notes due 2020 of Allied World Assurance Company Holdings, Ltd (Allied World) (Bermuda) (NYSE: AWH). The assigned outlook is stable.

"A.M. Besta™s Ratings & the Treatment of Debt."

The proceeds from the debt offering will be used for general corporate purposes. The debt-to-adjusted capital ratio and fixed charge coverage remain comfortably within the range that is commensurate with the assigned rating.

Allied World is a diversified property/casualty insurer/reinsurer with significant geographic reach. The company has strong risk-adjusted capitalization, an experienced management team and a historically strong operating performance.

The principal methodology used in determining these ratings is [ Besta™s Credit Rating Methodology -- Global Life and Non-Life Insurance Edition ], which provides a comprehensive explanation of A.M. Besta™s rating process and highlights the different rating criteria employed. Additional key criteria utilized include: aRisk Management and the Rating Process for Insurance Companiesa; aUnderstanding BCAR for Property/Casualty Insurersa; and a[ A.M. Besta™s Ratings & the Treatment of Debt ].a Methodologies can be found at [ www.ambest.com/ratings/methodology ].

Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit [ www.ambest.com ].