Nevertheless, this aspect is taken care of by the company's robust risk-adjusted capital levels. The stable outlook assigned on the ratings of Montpelier Re was on account of the company's financial flexibility, capital market accessibility and favorable rate environment in its targeted line of business. A.M. Best stated that an upward revision in the ratings or outlook can take place if the company continues to maintain strong risk-adjusted capital levels and consistently delivers strong operating profitability compared to its peers. Rating affirmations from credit rating agencies play an important part in retaining investor confidence in the stock as well as maintaining the creditworthiness in the market. We believe that the company's present score with the credit rating agencies will help it write more business going forward. Earlier in Sep 2012, Fitch Ratings upgraded the ratings on Montpelier Re Holdings and its subsidiary, Montpelier Re.