S&P rates PartnerRe preferreds BBB+

Standard & Poor's said it assigned its BBB+ preferred stock rating to PartnerRe Ltd.'s proposed $200 million series D cumulative redeemable preferred shares issuance.

At the same time, S&P affirmed its A counterparty credit rating on PartnerRe and its AA- counterparty credit and financial strength ratings on subsidiaries Partner Reinsurance Co. Ltd., Partner Re SA and Partner Reinsurance Co. of U.S. The outlook is stable.

S&P said the ratings are based on PartnerRe's very strong operating results, strong competitive position and well-diversified franchise, conservative balance sheet and strong capital adequacy.

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