Fitch Plans to Withdraw Everest Reinsurance Holdings, Inc. & its Subsidiaries Ratings

CHICAGO--()--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'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contacts

Fitch Ratings
Brad Istwan
Director
+1-312-368-3197
Fitch Ratings, Inc.
70 W. Madison Street
Chicago, IL 60602
or
Media Relations:
Brian Bertsch, New York, +1 212-908-0549
Email: brian.bertsch@fitchratings.com

Sharing

Contacts

Fitch Ratings
Brad Istwan
Director
+1-312-368-3197
Fitch Ratings, Inc.
70 W. Madison Street
Chicago, IL 60602
or
Media Relations:
Brian Bertsch, New York, +1 212-908-0549
Email: brian.bertsch@fitchratings.com