CHICAGO--(BUSINESS WIRE)--Fitch Ratings plans to withdraw the ratings on Everest Reinsurance Holdings, Inc. and its subsidiaries on or about June 19, 2014, for business reasons. Fitch currently rates Everest Reinsurance Holdings, Inc. and its subsidiaries as follows:
Everest Reinsurance Holdings, Inc.
--Long-term Issuer Default Rating (IDR) at 'A+';
--5.4% senior notes due 2014 at 'A';
--6.6% junior subordinated debenture due 2067 at 'BBB+'.
Everest Reinsurance Company;
Everest National Insurance Company;
Everest Indemnity Insurance Company;
Everest Security Insurance Company;
Everest Reinsurance Company (Ireland), Limited;
Everest Reinsurance (Bermuda) Ltd.
--Insurer Financial Strength (IFS) at 'AA-'.
The Rating Outlook is Stable.
Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient. Fitch believes that investors benefit from increased rating coverage by Fitch and is providing approximately 30 days' notice to the market on the withdrawal of Everest Reinsurance Holdings, Inc. and its subsidiaries ratings as a courtesy to investors.
Fitch's last rating action occurred on April 21, 2014. Fitch affirmed its ratings on Everest Reinsurance Holdings, Inc. and its subsidiaries.
Additional information is available at 'www.fitchratings.com'.