S&P's Trenwick Ratings On CreditWatch
NU Online News Service, March 6, 10:40 a.m. EST?Standard & Poor's Ratings Services in New York has placed its "triple-C-minus" counterparty credit ratings on Bermuda-based Trenwick Group Ltd. and its sub-holding companies, LaSalle Re Holdings Ltd. and Trenwick America Corp., on CreditWatch with "negative" implications.
S&P said its decision was based on its belief that the company's ability to restructure its senior debt to keep it out of default is "remote."
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