Moody's Investors Service said it will not downgrade the financial strength rating of PXRE Reinsurance Company.
Moody's confirmed the "Baa1″ insurance financial strength rating of PXRE and the "Ba2″ ratings of PXRE Capital Trust I.
The actions concluded a review for possible downgrade that was initiated in September following the company's announcement of its initial loss estimates for Hurricane Katrina. The outlook on the ratings is stable.
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