AM Best Co has assigned an indicative financial strength rating of A- (Excellent) to Danish Re Bermuda.
The rating is subject to the full completion of a US$200m private equity placement offer.
A statement by A.M. Best said it had expected the offer to be completed before the end of last month but ³delays within the placement process indicate that the capital is unlikely to be in place until the end of first quarter 2002².
If it is not completed by then, the rating will be reviewed or withdrawn.
