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Tower Group International, L.Ş. Message Board

  • getintoh20 getintoh20 Oct 2, 2013 9:20 AM Flag

    Tower Group still likely to lose A- rating, says Guggenheim $11 price target

    Tower Group still likely to lose A- rating, says Guggenheim
    Guggenheim believes its highly likely Tower Group loses its A- rating despite its announcement of a series of reinsurance transactions to protect its AM Best rating. The firm said reserve charges could prove to be extensive and that in the case of a downgrade, Tower may violate debt covenants and would likely become an acquisition target. Shares are Neutral rated with a $11 price target

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