Fitch rates XL Capital notes A

Fitch Ratings assigned an A rating to XL Capital Ltd.'s offering of $300 million of senior notes due 2014. The outlook is stable.

Fitch rates XL's senior debt at A, long-term issuer rating at A, preferred stock at A-, XL Capital Finance (Europe) plc's senior debt at A and XL Insurance (Bermuda) Ltd.'s, XL Re Ltd.'s, XL Insurance Co. Ltd.'s, XL Insurance Switzerland's, XL Re Latin America's, XL Europe Ltd.'s, XL America Pool's, XL Reinsurance America Inc.'s, XL Insurance Co. of New York Inc.'s, XL Specialty Insurance Co.'s, Indian Harbor Insurance Co.'s, Greenwich Insurance Co.'s, XL Insurance Co. Ltd.'s and XL Select Insurance Co.'s insurer financial strength at AA.

Proceeds of the offering will be used to repay XL's outstanding issue of Liquid Yield Option Notes due 2021.

Fitch said the ratings continue to reflect XL's position within the global insurance and reinsurance markets, historical underwriting and earnings performance, strong operating cash flow and adequate capital position at the parent and subsidiary level.

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