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S&P ups Ohio Casualty
Standard & Poor's said it raised its counterparty credit and financial strength ratings on the members of the Ohio Casualty Insurance Co. Intercompany Pool to A from A- and removed them from CreditWatch with positive implications.
At the same time, S&P said it raised its counterparty credit and senior unsecured debt ratings on Ohio Casualty Corp. to BBB from BBB- and removed them from CreditWatch positive.
The outlook is stable.
The ratings were placed on CreditWatch with positive implications on May 7, following Liberty Mutual's announced plan to acquire Ohio Casualty for about $2.7 billion in an all-cash deal, the agency noted.
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