Fitch goes negative on Arch after UGC deal

Fitch has put a number of Arch Capital's issuer credit
ratings on negative watch following news that the carrier is to
acquire AIG's mortgage insurance business United Guaranty
Corporation (UGC).
The ratings house went negative on the Bermudian's A-grade
issuer default rating, its A- senior unsecured notes and its BBB+
series C preferred shares.
However, Fitch affirmed the carrier's crucial A+ insurer
financial strength rating as it maintained a stable outlook.
The ratings house said it had revi