Moody’s affirms Validus

Moody's Investors Service said it affirmed the Baa1 senior unsecured and long-term issuer rating for Validus Holdings Ltd. and the A2 insurance financial strength rating for Validus Reinsurance, Ltd. following the announcement that it entered into an agreement to be acquired by American International Group, Inc. (AIG, Baa1, stable) for $5.56 billion in cash.

The transaction is expected to close in mid-2018, subject to customary closing conditions and regulatory approvals.

The outlook is stable.

“The transaction is credit positive for Validus as the company will benefit from being part of the larger AIG organization with its well-known brand, global footprint and significant capital base,” Moody’s said in a news release.

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