Moody's: Validus view to positive

Moody's Investors Service said it affirmed the senior Baa2 debt ratings of Validus Holdings, Ltd. and the A3 insurance financial strength rating of its principal operating subsidiary Validus Reinsurance, Ltd.

The outlook was changed to positive from stable.

Moody's said it changed the rating outlook to positive to reflect Validus' steady performance and growing track record. Validus' asset quality, capital adequacy and profitability ratios compare favorably to those of similar or higher-rated peers. Validus is one of a select number of reinsurers that has turned a profit in each year since 2006, the agency said.

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