Sompo International Holdings Ltd.—
-- “a-” (Excellent) on $335 million 7% senior unsecured notes, due 2034 (issued by Endurance Specialty Holdings Ltd. and guaranteed by Sompo International Holdings Ltd.)
-- “a-” (Excellent) on $300 million 4.7% senior unsecured notes, due 2022 (issued by Montpelier Re Holdings Ltd. and guaranteed by Sompo International Holdings Ltd.)
- AM Best has downgraded the Long-Term Issuer Credit Rating of Sompo International Holdings Ltd. (SIH) (Pembroke, Bermuda) from a (Excellent) to a- (Excellent).
- The downgrade is to harmonize the intermediate holding company Credit Ratings (ratings) of SIH with the Financial Strength Ratings of Sompo Japan Insurance Inc. (The ratings of the insurance operating companies of SIH.
- Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of a- (Excellent), which are guaranteed by SIH.
- For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .