A.M. Best Co. has affirmed the financial strength rating (FSR) of “A-” (Excellent) and the issuer credit rating (ICR) of “a-” of Validus Reinsurance, Ltd. (Validus Re), as well as the ICR of “bbb-” of Bermuda’s Validus Holdings, Ltd. Best also removed all of the ratings from under review with negative implications and assigned a stable outlook. “These rating actions follow Validus’ closing of the acquisition of Talbot Holdings, which took place on July 2, 2007, as well as Validus’ completion of its capital raising initiatives, which were necessary to support the risk-adjusted capital position of the company, said Best. The Company has raised over $545 million from an initial public offering of common stock and the issuance of hybrid junior subordinated deferrable debentures.
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