Standard & Poor's has affirmed its 'BB+' counterparty credit ratings on Willis Group, following the broking giant's second-quarter results announcement.
The outlook has been revised to positive from stable.
Standard & Poor's credit analyst Donovan Fraser said: "The change in outlook reflects Willis's continued improvement in operating performance in 2003 and consistent improvement following the company's IPO in June 2001."
The ratings agency said the current hard market in property/casualty insurance had also aided Willis's improved performance.
Standard & Poor's said it will meet with senior Willis management within the next few weeks to assess the Willis' performance.