S&P affirms ACE

Standard & Poor's said it affirmed it's a+ counterparty credit and financial strength ratings on ACE Ltd.'s active operating insurance companies and removed them from CreditWatch with negative implications, where they were placed on Sept. 9.

At the same time, S&P said it affirmed its BBB+ counterparty credit rating on ACE and removed it from CreditWatch negative.

The outlook on all these companies is negative.

S&P noted these rating actions follow ACE's $1.25 billion common equity issuance, which will improve ACE's capital adequacy.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.