NEW YORK (Standard&Poor's) May 26, 2011--Standard&Poor's Ratings Services said today that it assigned its unsolicited 'BBB' senior debt rating to Markel Corp.'s $250 million 10-year senior unsecured notes, which is a drawdown from its existing universal shelf filing dated Dec. 18, 2008. The rating action reflects our expectations that, based on Markel's March 31, 2011, financial results, the company's pro forma financial leverage will increase to 28% from 24%. This is consistent with our published expectations that Markel's financial leverage will remain below 30%. The company's coverage metrics are only minimally affected by this issuance. The proceeds will be held at the holding company to support general and corporate activities, including acquisitions. The unsolicited 'BBB' counterparty
