NY -- Standard&Poor's CreditWire 2/27/97 -- Standard&Poor's today has placed its double-`A' claims-paying ability rating of Partner Reinsurance Co., Ltd. (Partner Re) on CreditWatch with negative implications following the company's announcement that it has the opportunity to purchase Societe Anonyme Francaise de Reassurances (SAFR) from Swiss Reinsurance Co. (Swiss Re). SAFR's double-`A'-minus claims-paying ability rating has been placed on CreditWatch with positive implications. The triple-`A' claims-paying ability rating of Swiss Re has been affirmed. Swiss Re has acquired a 79% stake in SAFR by augmenting its previous 22% stake with the purchase of shares held by Assurances Generales de France, S.A. (double-`A'-minus claims-paying ability) and the French insurance group, Athena, and is pursuing a tender offer
