S&PBULLETIN: Ariel Re Rtg Unaffected By Sale Of Business

(The following statement was released by the rating agency)
March 5 (Reuters) - NEW YORK (Standard & Poor's) March
5, 2012--Standard & Poor's Ratings Services said today that its
ratings on Bermuda-based Ariel Reinsurance Co. Ltd. (A-/Watch
Neg/--) are not affected by the sale of its credit and surety
business to Arch Capital Group Ltd. (A-/Stable/--; core
operating companies: A+/Stable/--). A transaction of this nature
was already contemplated when we placed Ariel Re on CreditWatch
Negative on March 1, 2012 (see Ariel Reinsurance Co. Ltd. 'A-'
Ratings Placed On CreditWatch Negative, on RatingsDirect).
Primary Credit Analyst: Jason S Porter, CFA, New York (1)
212-438-3348; jason_porter@standardandpoors.com Secondary
Contact: Patricia Kwan, New York 212-438-6256;
patricia_kwan@standardandpoors.com S&PBULLETIN: ARIEL RE RTG
UNAFFECTED BY SALE OF BUSINESS
RPT - S&PBULLETIN: ARIEL RE RTG UNAFFECTED BY SALE OF BUSINESS

(Reporting By Joan Gralla)