LONDON -- Standard&Poor's CreditWire 2/28/97 -- Standard&Poor's has placed its double-`A'-minus claims-paying ability rating of SAFR Societe Anonyme Francaise de Reassurances (SAFR), the French reinsurer, on CreditWatch with positive implications. A positive CreditWatch implication means that the rating could go up or be affirmed at its existing level. This rating action follows the announcement by Swiss Reinsurance Co. (Swiss Re) of its intention to increase its stake in SAFR to 79% by purchasing SAFR shares held by AGF and Athena in France. At the same time, it has been disclosed that Partner Reinsurance Company Limited (Partner Re, claims-paying ability rating double-`A', currently on CreditWatch with negative implications. See separate press release dated Feb. 27, 1997) and
