A.M. Best Co. has assigned an issuer credit rating of “bbb-” to Maiden Holdings North America, Ltd. (Maiden NA) (Delaware), a direct, wholly owned subsidiary of Maiden Holdings, Ltd. (Maiden Holdings) (Hamilton, Bermuda) [NASDAQ: MHLD]. Concurrently, A.M. Best has assigned debt ratings of “bbb-” to the recently issued $100 million 8.0% senior unsecured notes due March 2042 and to the $107.5 million 8.25% senior unsecured notes due June 2041 (issued in June 2011) of Maiden NA. These senior notes are fully and unconditionally guaranteed by Maiden Holdings. The outlook assigned to all ratings is stable. All remaining ratings of Maiden Holdings are unchanged. The proceeds from these recent issuances will be used for general corporate purposes. Based on the new debt offering, Maiden Holdings’ adjusted debt-to-tangible capital ratio is approximately 28%. Maiden Holdings’ financial leverage and coverage ratios are within A.M. Best’s guidelines for its current ratings and are expected to remain so over the near term. The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Key criteria utilized include “Risk Management and the Rating Process for Insurance Companies”; “Rating Members of Insurance Groups”; “A.M. Best’s Ratings & the Treatment of Debt”; and “Equity Credit for Hybrid Securities.” Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology. Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com. Copyright © 2012 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.