Three rating agencies have downgraded Marsh Inc parent company Marsh & McLennan this week following Mr Spitzer’s allegations and a sharp downturn in the group’s share price.

Standard & Poor’s lowered its counterparty credit rating on Marsh to BBB+ from A+, and the rating remains on creditwatch with negative implications.

Moody’s lowered the senior rating to A3 from A2 and also lowered the commercial paper rating to Prime-2 from Prime-1.

Fitch downgraded the broker’s senior debt and long-term issuer rating from A+ to A- and its commercial paper from F1 to F2.