Fitch withdraws Trenwick ratings

Fitch Ratings confirmed and withdew its long-term and senior debt ratings of D on Trenwick America Corp. and its long-term ratings of D on Trenwick Group, Ltd. and also confirmed and withdrew its long-term D and preferred stock C rating on Trenwick's LaSalle Re Holdings, Ltd.'s subsidiary and its C rating on Trenwick Capital Trust I's capital securities.

Fitch's rating action follows Trenwick's Aug. 7 announcement that it had signed a letter of intent to restructure its debt obligations. The restructuring will include a Chapter 11 bankruptcy filing in the U.S. and similar proceedings in Bermuda, Barbados, or the U.K.

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