A.M. Best Co. has assigned debt ratings to the two classes of loan obligations issued by Panther Re Bermuda Limited, a newly created reinsurance sidecar financial vehicle for Hiscox, a Lloyd's syndicate.
The Oldwick, N.J.-based rating agency assigned a rating of “triple-b-minus” to Senior Secured Term A Loans of up to $72 million and assigned a rating of “double-b” to the Term B Loans of up to $144 million.
The outlook for both ratings is stable, Best said.
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