Fitch upgrades Willis Towers Watson

Fitch Ratings said it upgraded Willis Towers Watson plc’s issuer default rating and senior unsecured notes rating to BBB from BBB-.

The agency also said it upgraded the issuer default ratings and senior unsecured notes ratings on Willis North America Inc. and Trinity Acquisition plc to BBB from BBB-.

The outlook is stable.

The upgrades reflect news that the merger of Willis Group Holdings and Towers Watson & Co. was completed, Fitch said.

The merger creates a larger, more diverse entity with operating franchises in several businesses, including insurance brokerage, employee benefits and human resources, the agency said.

The transaction also creates opportunities to leverage existing relationships to increase penetration in the larger U.S. personal- and casualty-corporate market and to expand the company’s international profile, Fitch said.

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