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Fitch affirms Alterra
Fitch Ratings said it affirmed Alterra Capital Holdings Ltd.'s A- issuer default rating.
The agency also said it affirmed the BBB+ senior debt rating of Alterra Finance LLC and the A insurer financial strength ratings of Alterra's insurance subsidiaries.
The outlook is stable.
The ratings continue to reflect the company's solid capitalization and strong earnings track record, modest financial leverage and reduced investment risk, while maintaining its disciplined and flexible approach to managing risk, Fitch said.
The ratings also reflect the effect of reduced underwriting opportunities tied to competitive conditions in many of the company's core business lines, the agency said.
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