Standard & Poor's Ratings Services said today it placed its "A-minus" long-term counterparty credit and insurer financial strength ratings on Alea Europe AG, Alea (Bermuda) Ltd., Alea Global Risk Ltd., Alea Jersey Ltd., Alea London Ltd., Alea North America Insurance Co., and Alea North America Specialty Insurance Co.--the operating entities that comprise the Alea group (Alea)--on CreditWatch with negative implications.
At the same time, S&P withdrew its "BBB-minus" long-term counterparty credit rating on the group's intermediate holding company, Alea Group Holdings AG, following its recent cessation as a legal entity.
Alea Group Holdings Ltd. in Bermuda, specialty insurer and reinsurer, said today it has been notified that S&P is placing it's "A-minus" counterparty credit and insurer financial strength ratings on the operating entities that comprise the Alea group on CreditWatch with negative implications.
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