We have assigned preliminary ratings to the new shelf registration filed by Aspen. The shelf is replacing the existing facility, which is set to expire in December 2010. LONDON (Standard&Poor's) Dec. 20, 2010--Standard&Poor's Ratings Services said today that it assigned its preliminary 'BBB+' senior debt, preliminary 'BBB' subordinated debt, preliminary 'BBB-' junior subordinated debt, and preliminary 'BBB-' preferred stock ratings to Aspen Insurance Holdings Ltd.'s (Aspen) recently filed universal shelf registration program. The ratings reflect the group's strong competitive position, strong enterprise risk management, strong operating performance, and strong capitalization. Offsetting these strengths are the group's continued focus on growth, in particular in lines which are under a degree of pricing pressure. In addition, the group