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S&P upgrades Nac Re Corp

ratings on Nac Re Corp. to singe `A' from single `A'-minus.At the same time Standard & Poor's removed all ratings on NAC Re Corp. from CreditWatch with positive implications, where they were places on February 17, 1999.

ratings on Nac Re Corp. to singe `A' from single `A'-minus.

At the same time Standard & Poor's removed all ratings on NAC Re Corp. from CreditWatch with positive implications, where they were places on February 17, 1999.

Standard & Poor's also withdrew its triple `B'-plus subordinated debt and counterparty credit ratings on NAC Re Corp.'s convertible subordinated debentures that were called and converted in June 1999.