Moody's rates XLIT Ltd.'s senior notes Baa2; outlook is stable

New York, November 19, 2013 -- Moody's Investors Service has assigned a Baa2 rating to $600 million of senior notes to be issued by XLIT Ltd. (formerly XL Group Ltd.), a wholly-owned subsidiary of XL Group plc (XL Group -- not rated). $300 million of notes will mature in 2018 and $300 million will mature in 2043. The notes are redeemable at the option of the issuer and are fully and unconditionally guaranteed on a senior unsecured basis by XL Group. Net proceeds from the offering will be used to repay at maturity $600 million of outstanding senior notes due September 2014. Moody's currently rates XL Group's principal operating subsidiaries A2 for insurance financial strength. The outlook for the ratings is stable.

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