LONDON (Standard & Poor's) Aug. 9, 2004--Standard & Poor's Ratings Services said today that it assigned its 'BBB' counterparty credit rating to Bermuda-based Aspen Insurance Holdings Ltd. Standard & Poor's also said that the outlook on the company is stable. The rating on Aspen reflects its position as the holding company of the Aspen group, the principal operating subsidiaries of which are U.K.-based Aspen Insurance U.K. Ltd. (A/Stable/--) and Bermuda-based Aspen Insurance Ltd. (A/Stable/--). "The rating also reflects key features of the group's operating profile, such as its strong competitive position, strong operating performance, and very strong capitalization," said Standard & Poor's credit analyst Marcus Rivaldi. "These factors are partially offset by risk inherent in the group's growth strategy and
