NY -- Standard&Poor's CreditWire 8/12/97 -- Standard&Poor's today affirmed its long- and short-term ratings of Credit Suisse Group (the Group) and Winterthur Swiss Insurance Co. (Winterthur) and units (see below). The rating action follows yesterday's announcement of an intended merger between the Group and Winterthur to form a substantial Swiss and international provider of banking and insurance services. The deal, which is subject to shareholder and regulatory approval, is to be effected by way of an offer for Winterthur shares in exchange for Credit Suisse Group shares. Completion is expected around the end of 1997 backdated to July 1. The acquisition is substantial; Winterthur's shareholders' equity (after minorities) accounts for 25% of that of the pro
