NEW YORK (Standard&Poor's) Dec. 14, 2004--Standard&Poor's Ratings Services said today that it has reviewed the potential impact of the recent federal jury decision in New York that the 2001 terrorist attack on the World Trade Center was--for insurance purposes--two separate events rather than one. This ruling effectively doubles the amount that the developer, Larry A. Silverstein, may collect from the eight insurance companies involved in this case to $2.2 billion. An appeal by the insurers is likely, but even if this ruling stands, Standard&Poor's believes that the impact on earnings and capitalization of the incremental $1.1 billion in claims would not result in a change to the ratings on any of the insurers. The
