Moody's Investors Service cut various ratings of Bermuda-based XL Capital Ltd yesterday, including the financial strength ratings of insurance operations to Aa3--pulling those ratings down to the same level as XL's reinsurance operations.
The financial strength ratings of the insurance operating subsidiaries of XL Insurance (Bermuda) Ltd had previously been one notch higher at Aa2.
Moody's also cut the senior debt rating of the holding company to A3 from A2.
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