S&P: Swiss Re Finance Jersey on positive watch

S&P said it moved the senior debt rating for Swiss Re Finance Jersey Ltd., formerly Swiss Re Reassure Ltd., to CreditWatch with positive implications from developing. The agency removed the company’s rating from CreditWatch with negative implications and affirmed its A- rating.

“This reflects our expectation that Swiss Re Ltd. will provide SRFJL with group support in the form of a guarantee covering its senior debt by the closing date for the sale of ReAssure,” said S&P in a press release.

The €750 million 1.375% senior debt instrument due in 2023 issued by SRFJL is rated A-, in line with S&P’s issuer credit rating.

The outlook is stable.

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