Fitch rates PartnerRe preferreds BBB+

Fitch Ratings said it assigned a BBB+ rating to PartnerRe Ltd.'s $325 million of 7.25% cumulative perpetual preferred shares, series E.

The proceeds will be used for general corporate purposes.

Fitch also said it affirmed PartnerRe's A+ issuer default rating and AA- insurer financial strength rating of Partner Reinsurance Co. Ltd.

The outlook is stable.

Including the new issuance, PartnerRe's financial leverage and run-rate interest coverage remain supportive of the company's ratings, Fitch said.

The ratings continue to reflect the company's strong competitive position, high-quality balance sheet and solid long-term operating profitability, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.