Fitch Affirms Marsh & McLennan Credit Rating

NEW YORK (AP) — Fitch Ratings on Friday affirmed its "BBB" senior debt rating for Marsh & McLennan Cos., saying that the insurance broker's financial flexibility has improved significantly over the past several years.

The ratings service also affirmed Marsh & McLennan's long-term issuer default rating and short-term issuer default rating at "BBB" and "F2," respectively. The outlook is stable.

Fitch noted that the company's net debt has improved over the past three years, partially as a result of proceeds from the mid-2007 sale of Putnam Investments, but also as a result of a significant reduction in its debt load.

Marsh & McLennan shares fell 17 cents to $23.34 in afternoon trading.