NY -- Standard&Poor's CreditWire 1/13/1999 -- Standard&Poor's today affirmed its double-'A' financial strength and counterparty credit ratings on members of the St. Paul Fire&Marine Intercompany Pool. Standard&Poor's also affirmed its ratings on St. Paul Cos. Inc., USF&G Corp., and United States Fidelity&Guaranty Co. The ratings on USF&G and United States Fidelity&Guaranty were affirmed in light of an explicit guarantee from the parent. At the same time, Standard&Poor's lowered its short-term rating on St. Paul Cos.'s commercial paper program to 'A-1' from 'A-1'-plus. All ratings were removed from CreditWatch, where they were placed Nov. 4, 1998. The outlook is stable The downgrade is based on St. Paul
