S&P puts ACR on negative watch over Shenzen deal

Standard & Poor's (S&P) has placed Asia Capital Re on
credit watch negative following the announcement of its$1bn sale to Shenzhen Qianhai Financial this morning.The rating agency said the reinsurer's A- long-term local
currency insurer financial strength and issuer credit ratings, and
its axAA long-term ASEAN regional scale rating had been placed
under credit watch with negative implications.
"We currently have limited information on [Shenzhen's]
plans for Asia Capital Re, and on Asia C