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'AA-' Ratings on Mapfre Mutualidad & Corporacion Mapfre Affirmed; Outlook Stable
Standard & Poors, Feb 2000
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
Jose Sanchez-Crespo, London (44) 171-826-3551; Rob Jones, London (44) 171-826-3650 LONDON (Standard & Poor's CreditWire) Feb. 9, 2000--Standard & Poor's has affirmed its double-'A'-minus long-term counterparty credit and insurer financial strength ratings on Spain-based insurance company, Mapfre Mutualidad de Seguros y Reaseguros. The outlook is stable. At the same time Standard & Poor's also affirmed it double-'A'-minus insurer financial strength rating on Corporacion Mapfre Compania Internacional de Reaseguros S.A. The affirmations follow the announcement on Jan. 23, 2000, that Corporacion Mapfre and Spain-based savings bank, Caja Madrid (double-'A'-minus/Stable/'A-1'-plus) have agreed to create a holding company--Mapfre-Caja Madrid Seguros--which will integrate the life, nonlife, and health insurance business of both entities. Corporacion Mapfre will have a controlling 51% share in the new...
Companies mentioned in this report are: Mapfre Mutualidad de Seguros y Reaseguros a Prima Fija,Caja de Ahorros y Monte de Piedad de Madrid,Mapfre S.A.,Familiar Cia de Seguros y Reaseguros S.A.,Caja de Madrid, Vida S.A. de Seguros y Reaseguros
Action: Affirmed
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