A.M. Best Co. announced today that it has downgraded thefinancial strength rating for property reinsurer MontpelierReinsurance Ltd. in Bermuda to "A-minus" from "A."
The Oldwick, N.J.-based rating agency downgraded existing debtratings of the holding company also, stating that all ratingsremain under review with negative implications.
Downgrades for Montpelier came in spite of the fact that thecompany raised $600 million in a public equity offeringrecently.
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