S&P upgrades White Mountains

Standard & Poor's said it raised its long-term counterparty credit rating on White Mountains Insurance Group Ltd. by one notch to BBB from BBB-.

The outlook is stable.

"The upgrade reflects our view that WTM benefits from significant geographic spread and diversify of earnings resources, in addition to strong liquidity and financial flexibility at the holding company," said S&P credit analyst Laline Carvalho in a news release.

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