Winterthur Stays on Watch Developing

Following an announcement of XL Capital Ltd.’s plans to purchase Winterthur Inter-national, including Winterthur International Ins. Co. Ltd. (WII) and Winterthur International Reinsurance Co. Ltd. (WIRE), S&P reported that the “A-” counterparty credit rating and FSR on WII and WIRE, as well as the “A-1+” short-term counterparty credit rating on WII, remain on CreditWatch with developing implications. The ratings were placed on Watch Developing on Jan. 11, 2001.