S&P upgrades 21st Century Insurance |
|
|
|
Published
:
Mon, 29 Oct 2007 14:59 |
NEW YORK (AP) - Credit rating agency Standard & Poor's said Monday it raised its counterparty credit rating on 21st Century Insurance Group after American International Group Inc. said it would buy the company.S&P increased the rating to investment-grade 'AA' from 'BBB+.' An improved credit rating allows a company to receive better interest rates when borrowing money.S&P raised the rating after discussing with AIG its strategy and integration plans for 21st Century Insurance Group. 21st Century Insurance Group is effectively becoming a unit of AIG's personal insurance business and the rating reflects AIG's credit ratings, S&P credit analyst Steven Ader said in a statement.Shares of 21st Century Insurance Group rose 7 cents to $16.16 in morning trading.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
2792.28 |
22.57 (
0.81 %)
|
| SYMBOL (
2012-01-19 ) |
| LAST |
CHANGE
|
|
CARNIVAL
(
11:35am )
|
|
2017.00 |
46.00 (
2.42 %)
|
|
WHITBREAD
(
11:35am )
|
|
1662.99 |
33.99 (
2.09 %)
|
| SYMBOL (
2012-01-19 )
|
| LAST |
CHANGE
|
|
IBM
(
12:34pm ) |
|
181.50 |
0.43 (
0.24 %)
|
| SYMBOL (
2012-01-19 )
|
| LAST |
CHANGE
|
|
| Portfolio
Manager |
|
|
|