S&P: Maiden Holdings view now stable

Standard & Poor’s said it affirmed its BBB+ financial strength ratings on Maiden Reinsurance North America Inc. and Maiden Reinsurance Ltd. and its BBB- counterparty credit ratings on Maiden Holdings Ltd. (NASDAQ:MHLD) and Maiden Holdings North America Ltd. (US).

At the same time, S&P revised the outlook on these companies to stable from negative.

In addition, S&P said it placed the BBB+ long-term counterparty credit and financial strength ratings on Maiden Specialty Insurance Co. on CreditWatch with negative implications following the announcement of an agreement to sell this inactive wholly owned subsidiary to Clear Blue Financial Holdings LLC (unrated).

“The ratings reflect our view of the company’s satisfactory business risk profile and upper adequate financial risk profile built on its adequate competitive position and strong capital and earnings,” said S&P credit analyst Neil Stein in a news release.

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