Fitch to rate PartnerRe preferreds BBB+

Fitch Ratings said it expects to assign a BBB+ rating to PartnerRe Ltd.'s proposed issue of series F non-cumulative redeemable perpetual preferred shares.

The rating on the planned issuance is equivalent to the ratings on PartnerRe's existing perpetual preferred securities.

The outlook is stable.

Fitch said it expects that PartnerRe will use the net proceeds from the sale of the series F preferred shares for general corporate purposes, including the redemption of the company's $290 million of outstanding series C preferred shares.

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