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| Prospect News home > News index > List of issuers A > Headlines for Assurant, Inc. > News item |
S&P could lower Assurant
S&P said it placed its BBB+ long-term issuer credit rating on Assurant Inc. on CreditWatch negative and affirmed its A-2 short-term issuer credit rating.
The agency also affirmed the A long-term issuer credit rating on Assurant’s core operating insurance subsidiaries.
S&P said the actions follow the company's announcement that it has agreed to purchase Warranty Group for roughly $2.5 billion in cash, stock and assumed debt.
The agency said that upon the close of the transaction it expects to lower the rating on Assurant by one notch to BBB.
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