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Allied World Assurance And Some Transatlantic Ratings Put On CreditWatch Positive Following Merger Announcement Jun 11
Standard & Poors, June 2011
Abstract
Yesterday, Allied World Assurance Co. Holdings AG and Transatlantic Holdings Inc.'s respective boards of directors approved a definitive agreement for a stock-for-stock merger of equals. We have placed the ratings on Allied World and its operating units on CreditWatch with positive implications because being part of a leading global reinsurance group could improve its competitive position. We have also placed the rating on Transatlantic on CreditWatch positive because of possible narrowed notching between the holding-company and operating-company ratings. The ratings on Transatlantic's operating companies are unchanged. NEW YORK (Standard & Poor's) June 13, 2011--Standard & Poor's Ratings Services said today that it placed its 'BBB+' counterparty credit rating on Allied World Assurance Co. Holdings AG and its 'A' counterparty credit...
Companies mentioned in this report are: Allied World Assurance Company Holdings, AG,Transatlantic Holdings Inc.
Action: On CreditWatch:Positive
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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