FLAGSTONE REINSURANCE HLDGS
			Symbol			FSR

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A.M. Best Affirms Ratings of Flagstone Reassurance Suisse SA and Flagstone Reinsurance Holdings Limited

2009-10-21 11:22 ET - News Release

Company Website: http://www.ambest.com
OLDWICK, N.J. -- (Business Wire)

A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit rating (ICR) of “a-” of Flagstone Reassurance Suisse SA (Martigny, Switzerland) and the ICR of “bbb-”of Flagstone Reinsurance Holdings Limited (Hamilton, Bermuda) [NYSE:FSR] (collectively referred to as Flagstone Re). Concurrently, A.M. Best has assigned indicative ratings of “bb” on preferred stock, “bb+” on subordinated debt and “bbb-” on senior debt for securities available under Flagstone Reinsurance Holdings Limited’s shelf registration. The outlook for all ratings is stable.

The ratings reflect Flagstone Re’s supportive level of risk-adjusted capitalization, solid underwriting performance since inception, and the continued maturation of the group structure and operating platforms. Furthermore, the ratings are supported by the significant investments Flagstone Re has made in infrastructure and the operational efficiencies incorporated into its organizational structure.

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