S&P revises Argo Group view to stable

S&P said it revised its outlook to stable from positive and affirmed its BBB- long-term issuer credit rating on Argo Group US Inc. (Argo US) and its A- long-term financial strength and issuer credit ratings on Argo US’ core operating subsidiaries.

S&P cited increased governance risk and a slower trajectory in profitability measures.

“Argo Group International Holdings Ltd (Argo), parent of Argo Group U.S. Inc. (Argo US), recently disclosed receiving a subpoena from the SEC seeking information on disclosure of certain compensation-related perquisites, which we now understand led its board to broaden a concurrent review of the governance and compensation-related matters simultaneously,” said S&P in a press release.

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