S&P pulls RSA units off watch

S&P said it affirmed its BBB+ issuer credit rating on RSA Insurance Group plc, withdrew its A/watch neg/-- rating on Codan Forsikring A/S at the request of the issuer. Concurrently, the agency affirmed its issuer credit ratings on all the group's other subsidiaries at A and assigned all of them a stable outlook. S&P also affirmed the BBB+ rating on the group's senior notes and guaranteed subordinated notes and the BB rating on the group's restricted tier 1 instrument. All these ratings have been removed from CreditWatch with negative implications.

These actions follow the consortium of Intact and Tryg completing its acquisition of RSA Insurance Group, S&P said.

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