Moody’s gives RenaissanceRe shares Baa2

Moody's Investors Service said it gave a Baa2(hyb) rating to fixed-rate non-cumulative perpetual series G preference shares to be sold by RenaissanceRe Holdings Ltd.

The company expects to use net proceeds to redeem all of the outstanding 5.375% series E preference shares, with any remaining proceeds to be used for general corporate purposes.

The outlook is unchanged at stable.

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