S&P gives Allied notes BBB

Standard & Poor's said it assigned its BBB unsecured senior debt rating to Allied World Assurance Co. Holdings Ltd.'s proposed $300 million 10-year note issuance.

The rating assignment is supported by the group's strong competitive position, strong operating performance and strong capitalization, the agency said.

These positive factors are partially offset by softening pricing conditions in many of Allied World's lines of business, the group's relatively short operating history in certain lines of business, particularly in certain areas where it has made acquisitions or more significantly expanded in recent years, and resulting limited internal loss experience in these lines, as well as its appetite for growth and expansion, which could contribute to further significant shifts in its risk profile, S&P said.

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