S&P cuts Allied World rating to A-

Allied World has had its financial strength rating cut from A to
A- by Standard & Poor's (S&P) following its $4.9bn
acquisition last week by Fairfax Financial Holdings, putting the
specialty insurer in line with its new parent.
Late Friday, S&P also cut its counterparty credit and senior
debt ratings on Allied World to BBB- from BBB+. The outlook on the
ratings was moved to stable from negative.
"We lowered the ratings on Allied World and aligned them
with those...