Bermuda-based Aspen Insurance Holdings Ltd. announced its intention to issue perpetual preferred shares. We are assigning a rating of 'BBB-' to this proposed share issuance. We expect to classify the issuance as having "intermediate equity content," according to our criteria. LONDON (Standard&Poor's) April 25, 2013--Standard&Poor's Ratings Services said today that it assigned its 'BBB-' debt rating to Aspen Insurance Holdings Ltd.'s (Aspen; BBB+/Stable/--; core operating companies rated A/Stable/--) proposed perpetual preferred share issuance. The issuance will have a fixed rate in the initial 10-year period and will revert to a floating rate thereafter. The issue is callable after 10 years. The ratings are subject to confirmation of the final terms and conditions of the issue. The
