Fitch affirms Alterra Capital

Fitch Ratings said it affirmed Alterra Capital Holdings Ltd.'s A- issuer default rating and its subsidiaries' BBB+ senior debt rating.

The outlook is stable.

Alterra's ratings reflect the company's improved profile including solid capitalization and earnings, reasonable financial leverage and reduced investment risk, while maintaining its disciplined and flexible approach to managing risk, the agency said.

Ratings also reflect the effect of reduced underwriting opportunities tied to competitive conditions in many of the company's core business lines, the agency noted.

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