Fitch: No Impact From ACE IPO

NU Online News Service, Dec. 2, 12:20 p.m. EST?Fitch Ratings said it looks favorably upon ACE's plans for an initial public offering of its financial guaranty insurance subsidiary and affirmed the carriers "A-negative/F2″ ratings for ACE Ltd. [@@]

In a statement, the rating agency, out of New York, said it views the transaction by the Hamilton, Bermuda-based insurer as positive "depending on the amount of proceeds from the IPO and the manner in which they are deployed."

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