S&P affirms AmWINS, ups outlook to stable

Standard & Poor's said it affirmed its B counterparty credit and senior debt ratings on AmWINS Group Inc. (American Wholesale Insurance Group Inc.) and revised its outlook on the company to stable from negative.

The rating actions follow AmWINS' recently announced IPO plans, the agency said, noting that the outlook was revised to stable due to the company's demonstrated ability to maintain margins in the last few quarters.

In addition, AmWINS is committed to redeeming a proportional amount of debt from the proceeds of its planned IPO, the agency added.

According to S&P, the counterparty credit rating on AmWINS reflects its enhanced competitive position following the acquisition of Stewart Smith Group in April 2005.

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