S&P: IPC on watch

Standard & Poor's said it placed its BBB counterparty credit rating on IPC Holdings Ltd. on Creditwatch with negative implications.

The agency also said that it placed its A- counterparty credit and financial strength ratings on IPCRe Ltd. and its A- financial strength rating on IPCRe Europe Ltd. on Creditwatch negative.

"We placed the ratings on Creditwatch negative to reflect the uncertainty surrounding IPC's senior management and corporate strategy," explained S&P credit analyst Taoufik Gharib.

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