New York, October 06, 2016 -- Moody's Investors Service, ("Moody's") has affirmed the insurance financial strength (IFS) ratings of Endurance Specialty Holdings Ltd.'s ("Endurance" -- NYSE: ENH) principal operating subsidiaries at A2 following a joint announcement that Endurance has agreed to be acquired by a subsidiary of Sompo Holdings, Inc. ("Sompo Japan" -- not rated, Sompo Japan Nipponkoa Insurance Inc. ("SJNK" - IFS rating at A1/stable)) for approximately $6.3 billion in cash. In the same rating action, Moody's affirmed Endurance's debt and preferred stock ratings (senior at Baa1). The outlook for the ratings is stable. The transaction is expected to close in 1Q2017 subject to Endurance shareholder approval, various regulatory clearances and approvals and other customary closing conditions.

Vollständigen Artikel bei Moodys lesen