LONDON (Standard&Poor's CreditWire) Nov. 8, 1999--Standard&Poor's today affirmed its triple-'A' long-term counterparty credit and insurer financial strength ratings, and its 'A-1'-plus short-term counterparty credit and commercial paper ratings on Allianz AG, and its ratings on Allianz's related entities, following the announcement that the Munich-based insurance group is to acquire a 70% controlling stake in U.S. fund manager Pimco Advisors, for a consideration of US$3.3 billion. The outlook on Allianz is stable. This transaction realizes Allianz's ambitions to make asset management an additional core activity of the group, and enhances its international business position. The addition of Pimco will place Allianz in the top six asset managers globally, with combined funds under management of US$647 billion, an
