NEW YORK (Standard&Poor's) May 12, 2008--Standard&Poor's Ratings Services said today that it assigned its 'A-' senior debt rating to ACE INA Holdings Inc.'s $450 million senior notes offering, which is fully and unconditionally guaranteed by ACE Ltd. (ACE; A-/Stable/A-2). "The rating on ACE reflects its operating insurance companies' very strong collective competitive position as a global and diversified property/casualty group and their strong financial flexibility, strong capitalization, and strong operating performance," said Standard&Poor's credit analyst Damien Magarelli. "Negative factors are ACE's changing and increasing risk profile into new lines and geographic locations and high reinsurance utilization in certain lines." In addition, ACE has high amounts of recoverables, runoff reserves, and intangibles, though collectively, these
