Moody’s rates PartnerRe’s preferred shares Baa2(hyb)

Moody's Investors Service said it assigned a Baa2(hyb) rating PartnerRe Ltd.’s $200 million of fixed-rate non-cumulative perpetual preferred shares. The shares are redeemable by PartnerRe after five years under certain conditions.

Moody’s affirmed the Baa2 (hyb) rating on March 4.

The company expects to use the proceeds for general corporate purposes, which may include the redemption or repurchase of the company's outstanding preferred shares.

The outlook is unchanged at stable.

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