LONDON (Standard & Poor's) Oct. 3, 2005--Standard & Poor's Ratings Services said today it placed its 'BBB+' long-term counterparty credit rating on Bermuda-based holding company Aspen Insurance Holdings Ltd. on CreditWatch with negative implications. At the same time, Standard & Poor's placed its 'A' long-term counterparty credit and insurer financial strength ratings on U.K.-based Aspen Insurance U.K. Ltd. and Bermuda-based Aspen Insurance Ltd.--the core operating subsidiaries of the Aspen group (Aspen)--on CreditWatch with negative implications. "The CreditWatch placement follows Aspen's update today on its assessment of losses sustained from Hurricane Katrina and the resultant New Orleans flood," said Standard & Poor's credit analyst Marcus Rivaldi. The group's estimated gross loss has been substantially increased to a range of approximately $840
