S&P may up Polskie Towarzystwo

Standard & Poor's said Polskie Towarzystwo Reasekuracji SA's BBB- long-term counterparty credit ratings remain on CreditWatch with positive implications.

Ratings were placed on CreditWatch with positive implications on Sept. 8, following Fairfax Financial Holdings Ltd.'s (BB+/stable) announcement of its public offer to acquire all of the outstanding shares of Polish Re.

"The placement reflects our expectation that, once the acquisition is complete, the ratings on Polish Re could benefit from group support under our group rating methodology," S&P analyst Miroslav Petkov said in a statement.

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