A.M. Best Assigns Ratings to Validus Holdings, Ltd´s Shelf Registration

A.M. Best Co. has assigned indicative ratings of “bbb-” on senior debt, “bb+” on subordinated debt and “bb” on preferred stock of Validus Holdings, Ltd’s (Validus) (Hamilton, Bermuda) (NYSE: VR) recently filed universal shelf registration. The outlook for all ratings is stable. The shelf registration allows Validus to issue the following securities: common shares, preferred shares, depositary shares, debt securities and other securities. The terms of any offering by Validus under the registration statement will be established at the time of the offering. The net proceeds from any issuance would be used for general corporate purposes. It is A.M. Best’s expectation that any issuance under the registration will be used to support growth and enhance financial flexibility. There are no plans to offer or sell any securities at this... [read full story]