S&P RAISES RATING ON WHITE MOUNTAINS

Bermuda-domiciled re/insurer White Mountains has had its counterparty credit rating raised to 'BBB' from 'BBB-' by rating agency Standard & Poor's (S&P). The outlook is stable. S&P said that the move reflected it expectation that "liquidity and financial flexibility will remain strong at the holding company during the next one to two years". S&P said that it believed White Mountains would continue to make acquisitions and dispositions in coming years. The agency felt that White Mountains' diversity of domiciles "provides the holding company with significant regulatory flexibility in its ability to upstream dividends from its regulated operating subsidiaries".