Transatlantic and Allied World off CreditWatch as merger chances <50%: S&P
Standard & Poor's has taken Transatlantic and Allied World off CreditWatch because it believes the chances of the US reinsurer's shareholders voting in favour of a merger between the companies has fallen to less than 50 percent.
S&P put the BBB+ long-term counterparty credit rating of Transatlantic Holdings on CreditWatch Positive on 13 June when the merger agreement to form TransAllied was announced.
It also placed Allied World Assurance Co. Holdings BBB+ long-term counterparty credit rating on CreditWatch Positive, along...
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