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Bulletin: Unipol Gruppo Finanziario Ratings Unaffected By Announced Restructuring
Standard & Poors, June 2008
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
MILAN (Standard & Poor's) June 27, 2008--Standard & Poor's Ratings Services said today that its counterparty credit rating on Italy-based insurer Unipol Gruppo Finanziario SpA (UGF; BBB/Stable/--), as well as the counterparty credit and insurer financial strength ratings on the core operating companies plus related debt ratings are not affected by the restructuring announced by the group. According to the plan approved by UGF's board of directors, Aurora Assicurazioni SpA (A-/Stable/--) will be merged into Compagnia Assicuratrice Unipol SpA (A-/Stable/--), and UGF's insurance service businesses hived-down into the company resultant from the merger. The ratings on UGF group remain based on its strong competitive position in the Italian insurance market, its strong operating performance in property/casualty insurance, and its strong...
Companies mentioned in this report are: Unipol Gruppo Finanziario SpA,Aurora Assicurazioni SpA,UGF Assicurazioni SpA
Action: Bulletin
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