Moody's - a US rating agency - has confirmed the Aa2 insurance financial strength rating of ACE Guaranty Re, Inc. (AGR).

The rating was placed under review, subsequent to a review for possible downgrade of its parent, ACE Limited, following the World Trade Center disaster.

The rating confirmation reflects specific measures taken by AGR and its board to further insulate its financial condition from that of its parent, and improve its liquidity. Moody's rating action assumes that ACE Limited's senior debt rating remains in the "A" category (currently A2, under review for downgrade).