Transatlantic Holdings Inc. Rating Affirmed, Off CreditWatch; Outlook Stable Sep 11
- ID: 1885592
- September 2011
- Standard & Poors
We are uncertain the impending merger between Allied World Assurance Co. Holdings AG and Transatlantic Holdings Inc. will be completed. We have removed our 'BBB+' long-term counterparty credit rating on Transatlantic from CreditWatch Positive. The ratings on Transatlantic's operating companies are affirmed. NEW YORK (Standard & Poor's) Sept. 13, 2011--Standard & Poor's Ratings Services said today that it removed our 'BBB+' long-term counterparty credit rating on Transatlantic Holdings Inc. from CreditWatch Positive, where it was placed June 13, 2011. The outlook is stable. The 'A+' counterparty credit and financial strength ratings on Transatlantic's subsidiaries are affirmed. "As a result of the events that have transpired during the past 90 days, we believe the possibility that Transatlantic's shareholders will approve the...
Companies mentioned in this report are: Transatlantic Holdings Inc.,Allied World Assurance Co. Holdings AG
Action: Removed From CreditWatch
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.