Standard & Poor's Ratings Services revised its outlook on American Wholesale Insurance Group Inc. (AmWINS) from negative to stable after the company's recently announced initial public offering plans.
"The outlook was revised to stable due to the company's demonstrated ability to maintain margins in the last few quarters," explained Tracy Dolin, S&P's credit analyst. "In addition, AmWINS is committed to redeeming a proportional amount of debt from the proceeds of its planned IPO."
S&P affirmed the "B" counterparty credit and senior debt ratings on AmWINS.
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