NY -- Standard&Poor's CreditWire 11/4/98 -- Standard&Poor's today placed its double-'A' financial strength and counterparty credit ratings of St. Paul Fire&Marine Insurance Co. Intercompany Pool members, and its ratings on The St. Paul Cos. Inc. on CreditWatch with negative implications. At the same time, Standard&Poor's placed its ratings on USF&G Corp., and United States Fidelity&Guaranty Co. on CreditWatch with negative implications because of the explicit support provided by the new parent. The CreditWatch placement is based on the combination of the company's decision to issue additional debt in its plan to execute a $500 million share buyback, and lower-than-expected earnings. The recent earnings performance of the company would suggest that
