S&PBULLETIN: Ariel Re Rtg Unaffected By Sale Of Business
(The following statement was released by the rating agency) March 5 (Reuters) - NEW YORK (Standard & Poor's) March 5, 2012--Standard & Poor's Ratings Services said today that its ratings on Bermuda-based Ariel Reinsurance Co. Ltd. (A-/Watch Neg/--) are not affected by the sale of its credit and surety business to Arch Capital Group Ltd. (A-/Stable/--; core operating companies: A+/Stable/--). A transaction of this nature was already contemplated when we placed Ariel Re on CreditWatch Negative on March 1, 2012 (see Ariel Reinsurance Co. Ltd. 'A-' Ratings Placed On CreditWatch Negative, on RatingsDirect). Primary Credit Analyst: Jason S Porter, CFA, New York (1) 212-438-3348; firstname.lastname@example.org Secondary Contact: Patricia Kwan, New York 212-438-6256; email@example.com S&PBULLETIN: ARIEL RE RTG UNAFFECTED BY SALE OF BUSINESS RPT - S&PBULLETIN: ARIEL RE RTG UNAFFECTED BY SALE OF BUSINESS (Reporting By Joan Gralla)
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