Best Lowers ACE's Debt Ratings
NU Online News Service, June 10, 4:14 p.m. EDT?A.M. Best said it has downgraded its ratings for Bermuda-based ACE Limited's debt securities as well as those for securities guaranteed by ACE while affirming the financial strength ratings of ACE's operating units.
In today's ratings action, the Oldwick, N.J.-based rating agency lowered ACE's senior debt rating to "triple-b-plus" from "a" and downgraded subordinated notes to "triple-b" from "a-minus". ACE's trust preferred securities were also lowered, to "triple-b-minus" from "a-minus".
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