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Marsh & McLennan Companies, Inc. -- Moody's affirms Marsh & McLennan's ratings (senior at Baa1); outlook to negative based on leveraged purchase of JLT

Moody's Investors Service has affirmed the Baa1 senior unsecured debt and P-2 commercial paper ratings of Marsh & McLennan Companies, Inc. (MMC) following the company's announcement that it has agreed to purchase UK-based insurance broker Jardine Lloyd Thompson Group plc (JLT.L) for cash of $5.6 billion. The rating agency has changed MMC's rating outlook to negative from stable based on the expected increase in financial leverage and the execution risk associated with acquiring JLT.