Standard & Poor’s Ratings Services has followed up on its analysis of its ratings for Bermuda-based Ariel Reinsurance Co. Ltd. following the announcement that it is selling its Bermuda-based business to Arrow, a unit of Goldman Sachs, and its credit and surety business, based in Zurich, to Arch Capital.
S&P said its ratings on Ariel Re, currently ‘A-‘, but on CreditWatch with negative implications, “are not affected by the sale of its credit and surety business to Arch Capital Group Ltd.”
S&P added that a “transaction of this nature was already contemplated when we placed Ariel Re on CreditWatch Negative on March 1, 2012.”
Source: Standard & Poor’s
Was this article valuable?
Here are more articles you may enjoy.
Impeachment Sought on Federal Judge Over Sex in Chambers, Lying to Investigators 
Wall Street Is Gaining Access to New Catastrophe Models to Help Predict Wars 
El Nino Is Here and Scientists Fear It’ll Bring Costly Heat, Floods, Droughts, Fires 
Eli Lilly Wins Court Order in Fraud Allegations Against Florida, TN Pharmacy Groups 
