S&P rates Aspen notes BBB+

Standard & Poor's said that it assigned Aspen Insurance Holdings Ltd.'s pending $250 million 10-year senior notes a BBB+ rating and affirmed the BBB+ counterparty credit rating.

The outlook is stable.

The ratings reflect the group's strong competitive position, strong enterprise risk management, strong operating performance and strong capitalization, S&P said.

The ratings are constrained by the group's continued focus on growth, in particular in lines which are under a degree of pricing pressure, and its exposure to earnings volatility stemming from high-severity and low-frequency reinsurance lines, the agency said.

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