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Bulletin: Unipol Gruppo Finanziario Ratings Unaffected By Announced Capital Restructuring
Standard & Poors, Dec 2007
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
PARIS (Standard & Poor's) Dec. 13, 2007--Standard & Poor's Ratings Services said today that its counterparty credit and insurer financial strength ratings on the core operating companies of Italy-based insurer Unipol Gruppo Finanziario (UGF, insurer financial strength rating on core operating companies A-/Stable) are not affected by the capital restructuring announced by the group. We had already factored into the ratings the payback of excess capital to UGF shareholders. As expected, the payback amount does not reduce the group's capitalization to a level out of line with the ratings. The ratings on UGF are based on its strong competitive position in the Italian insurance market, its strong operating performance in property/casualty insurance, and its strong financial flexibility and capitalization. Offsetting...
Companies mentioned in this report are: Unipol Gruppo Finanziario SpA
Action: Bulletin
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