S&P places NFP on positive watch

S&P said it placed all its NFP Holdings LLC ratings, including the B issuer rating, on CreditWatch with positive implications.

The positive watch follows the announcement that investment-grade rated Aon plc agreement to buy NFP for about $13.4 billion. Aon plans to finance the deal with a combination of cash and stock.

“We expect the transaction to close as early as mid-2024, but it could extend into the first half of 2025. We believe the transaction will be positive for NFP given the stronger investment-grade rating on Aon and its much larger scale,” S&P said in a press release.

The agency said it aims to resolve the CreditWatch when the deal closes.

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