S&P assigns PartnerRe preferreds BBB

Standard & Poor's said it assigned its BBB preferred stock rating to PartnerRe Ltd.'s proposed $150 million series F noncumulative redeemable preferred shares.

S&P said it expects PartnerRe to use the proceeds of the series F preferred issuance to redeem some of its higher-coupon, outstanding preferred shares, with no significant change in the group's financial leverage.

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