Moody's ups ACE view to stable

Moody's Investors Service said it changed the outlook for ACE Ltd.'s debt ratings, including its senior debt at A3, to stable from negative.

In the same action, Moody's said it confirmed the A2 insurance financial strength ratings of the ACE companies and the Ba3 IFSR ratings of Century Indemnity Co. and Century Reinsurance Co., all with a stable outlook.

Moody's said the rating actions are supported by the company's improved capitalization and financial flexibility given the recently announced $1.25 billion common equity offering.

Moody's noted that ACE's ratings reflect its solid competitive positions in its principal business segments, its diversified spread of risk and good internal liquidity, and its sound capitalization on a consolidated basis and increased financial flexibility.

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