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BULLETIN: Spanish Insurance Group Sistema Mapfre Ratings Unaffected By Restructuring
Standard & Poors, May 2006
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
LONDON (Standard & Poor's) May 31, 2006--Standard & Poor's Ratings Services said today that its ratings and outlook on the Spanish Sistema Mapfre insurance group are likely to be unaffected by the group's corporate reorganization. Sistema Mapfre--of which the principal operating entity is currently Mapfre Mutualidad de Seguros y Reaseguros a Prima Fija (Mapfre Mutualidad; AA/Stable/--)--announced on May 30, 2006, its intention to restructure the group. The proposed operation, which is subject to regulatory and other approvals, entails the integration of all group activities under the listed holding company, Corporaci-n Mapfre S.A. (AA-/Stable/--), the quoted vehicle of Sistema Mapfre. Inherent in this transaction is the transfer to Corporaci-n Mapfre S.A. (which will be renamed Mapfre S.A.) of the operating units...
Companies mentioned in this report are: Mapfre Mutualidad de Seguros y Reaseguros a Prima Fija,Mapfre S.A.
Action: Bulletin
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