S&P puts Ironshore on watch

Standard & Poor’s said it placed its BBB long-term counterparty credit ratings on Ironshore Inc. and Ironshore Holdings (U.S.) Inc. on CreditWatch with negative implications.

“The CreditWatch placement follows the announcement that Fosun International Ltd. and Ironshore have signed a definitive agreement for Fosun to acquire the remaining interest in Ironshore that it does not already own (about 80%) in an all-cash transaction,” said S&P credit analyst Siddhartha Ghosh in a news release.

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