S&P’s Lowers then Withdraws Various Public Info Ratings

February 24, 2003

Standard & Poor’s has withdrawn its public information (pi) counterparty credit and financial strength ratings on various insurance companies because of a decision to refocus analytical research resources.

“Specifically, in those insurance sectors where Standard & Poor’s already provides significant coverage through its full, interactive rating process, Standard & Poor’s will withdraw many – or, in some cases, all – of its pi ratings,” credit analyst Tom Taillon commented.

In accordance with Standard & Poor’s surveillance standards, the ratings were lowered for various analytical reasons before their withdrawal based on the most recently available public information.

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