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Fitch puts Willis Towers on positive watch
Fitch Ratings said it placed the BBB long-term issuer default ratings and outstanding debt of Willis Towers Watson plc and its subsidiaries on rating watch positive.
The placement follows Aon plc and Willis Towers Watson announcing the companies entered into a definitive agreement to combine in an all-stock transaction with an implied equity value of about $80 billion. The rating watch reflects Fitch's view the pro forma combined Aon entity enhances both companies' diversification and scale and could lead to a higher IDR for Willis Towers Watson, in-line with Aon's current BBB+ rating.
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