TEXT-S&P affirms Validus Re 'A', Validus Holdings 'BBB+' ratings

Overview -- Bermuda-based Validus Reinsurance Ltd. announced that it will acquire Flagstone Reinsurance Holdings S.A. -- We expect the company to experience relatively low integration risk due to short-tail reserves and limited integration of Flagstone's underwriting operations. -- We are affirming our 'A' financial strength rating on Validus Reinsurance Ltd. and 'BBB+' counterparty credit rating on Validus Holdings Ltd. The outlook remains stable. -- We believe the acq