On Jan. 31, 2003, Standard&Poor's Ratings Services placed its 'A' counterparty credit rating on the members of the Fidelity National Title Insurance Cos. Group (Fidelity National; see ratings list) on CreditWatch with developing implications. At the same time, Standard&Poor's placed its 'BBB' counterparty credit and senior debt ratings on Fidelity National's parent, Fidelity National Financial Inc. (FNF), on CreditWatch with developing implications. The CreditWatch actions are the result of FNF's Jan. 29, 2003, announcement that it has entered into a definitive agreement to acquire the financial services division of ALLTEL Information Services (AIS) in a stock and cash transaction valued at about $1.05 billion. The purchase price is to be financed with $275 million of FNF
