World”Riot police clashed with the protesters and used teargas to disperse the crowd,” said the witness. World. WASHINGTON (Reuters) – The Obama administration has rescinded invitations to Iranian diplomats to attend U.S. independence day celebrations on July 4, the White House said on Wednesday.White House spokesman Robert Gibbs said Iranian diplomats had in any case not replied to invitations already sent out.(Editing by David Alexander). CHICAGO–(Business Wire)–Fitch Ratings has assigned a ‘BBB+’ rating to the euro 500 million seniorunsecured note issuance completed today by Aon Financial Services Luxembourg,S.A (Aon Luxembourg), a subsidiary of Aon Corporation (Aon).

Fitch alsoassigned a ‘BBB+’ Issuer Default Rating (IDR) to Aon Luxembourg. The new notesare fully and unconditionally guaranteed by Aon and are therefore based on Aon’s’BBB+’ IDR. Fitch expects that the net proceeds from this new senior debtissuance will refinance roughly 480 million euro of existing debt maturing in2010, with the remaining balance for general corporate purposes. On June 12, 2009, Fitch affirmed all of its ratings for Aon and Aon’ssubsidiaries The Outlook is Stable. (A full list of existing ratings follows atthe end of this release.) The anticipated rating action reflects Aon’s strong balance sheet and cash flowgeneration, and very good financial flexibility. Following the completion ofAon’s financing plans, the company’s pro forma March 31, 2009 total debt tocapital ratio will remain essentially unchanged at roughly 26%.

Fitch believesthat Aon’s financial leverage, as measured by debt-to-EBITDA and debt-to-totalcapital ratios, is currently and will remain within a reasonable range for therating category in the near-term. Aon’s liquidity profile is solid with cash andshort-term investments totaled roughly $1.4 billion. Cash flow remains strongwith earnings-based interest coverage of roughly 13 times (x) as of March 31,2009. Additionally, Aon’s ratings reflect the company’s favorable competitive positionamong the top three global brokers, with major operations in insurancebrokerage, reinsurance brokerage and human capital consulting. Aon continues todemonstrate its ability to retain clients and grow new business while improvingprofitability.

Fitch also believes that Aon’s current management team has a verygood track record related to the execution of strategic plans and expensecutting, and therefore expects integration risk as a result of the acquisitionof Benfield Group Limited at the end of 2008 will be manageable. Issues offsetting these positives include Aon’s significant projected pensionobligations and its current underfunded status. Fitch believes this pensionexpense could stress Aon’s liquidity profile; however, Fitch also expects thisvolatility should decrease over time due to the freezing of Aon’s major plans.Aon’s pensions were roughly $1.4 billion under-funded as of March 31, 2009,while the company plans to contribute $400 million in 2009, increased from $177million in 2008. Fitch believes this contribution is reasonable given Aon’sstrong balance sheet and operating cash flow.