American Safety Insurance Holdings, Ltd. said yesterday that ratings agency A.M. Best Company had affirmed the rating of ?A? (Excellent) of its US insurance and Bermuda reinsurance subsidiaries, and had changed the outlook to ?stable?.

According to A.M. Best?s Financial Strength Rating Rationale: ?The rating reflects the Group?s favourable capitalisation, profitable underwriting results and effective management of its insurance and investment programmes.

The rating further recognises the Group?s underwriting expertise in its niche markets, the custom designed risk management programmes it offers to clients, and its commitment to maintaining underwriting discipline.?

NEW YORK (Bloomberg) ? Ingersoll-Rand Co., the maker of Bobcat machinery and Thermo-King refrigerated trucks, bought the global low-pressure air business of BOC Edwards.

The agreement includes BOC Edwards?s businesses in Montreal and Esslingen, Germany, which make air pressure machines that are used in the wastewater and power industries, Bermuda-based Ingersoll-Rand said yesterday.

Terms of the transaction weren?t disclosed.

WASHINGTON, DC (Bloomberg) Bunge Ltd., the world?s biggest oilseed processor, said it entered a joint venture with Acciona SA and other Spanish partners to build two biodiesel plants in that country.

The plants will be built next to Bunge oilseed processing plants and vegetable oil refineries in Bilbao and Cartagena, Bermuda-based Bunge said yesterday in a statement.

The Bilbao plant is expected to have a capacity of 200,000 metric tons a year, Bunge said.