Fitch to give ACE INA debt A+

Fitch Ratings said it expects to assign an A+ rating to the $800 million senior unsecured 10-year note issuance planned by ACE INA Holdings Inc., a subsidiary of ACE Ltd.

The agency also affirmed the ratings of ACE Ltd. and its subsidiaries.

The outlook is stable.

The new notes will be fully and unconditionally guaranteed by ACE and are therefore based on its AA- issuer default rating.

Fitch expects that the net proceeds will refinance $800 million of existing debt maturing in 2017 and 2018.

Fitch said the actions reflect ACE's continued strong operating performance despite competitive market conditions, strong balance sheet position and financial flexibility with moderate leverage and diverse sources of revenues and earnings with the advantages of global scale and a strong management team.

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