Moody's affirms Validus, Flagstone

Moody's Investors Service said it affirmed the Baa2 senior unsecured ratings of Validus Holdings Ltd., A3 insurance financial strength rating of Validus Reinsurance Ltd., Baa3 long-term issuer rating of Flagstone Reinsurance Holdings, SA and A3 insurance financial strength rating of Flagstone Reassurance Suisse, SA.

The outlook for Validus' ratings remains stable.

The outlook for Flagstone Reinsurance Suisse was changed to stable from negative.

The outlook for Flagstone Reinsurance Holdings was changed to developing from negative.

Moody's said the affirmations follow an announcement that Validus agreed to acquire Flagstone with a combination of cash and stock.

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