Aon Corporation’s senior debt rating was downgraded from “AA-” to “A+” by Fitch. Also downgraded were Aon’s commercial paper from “F1+” to “F1.” The rating actions followed Aon’s Nov. 2 announcement of plans to implement a business transformation plan, with which, Fitch indicated, the company’s recent decline in cash flow coverage ratios are unlikely to improve in the near term. The rating outlook is stable.
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