Research Update: Italian Insurer Unipol 'BBB+' Ratings Kept On Watch Negative On Merger Plans With Fondiaria-SAI Feb 12
- Language: English
- Published: February 2012
- Region: Italy
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
On March 20, 2009, Standard & Poor's Ratings Services revised its outlook on Italy-based insurer Unipol Gruppo Finanziario SpA and its core entity, UGF Assicurazioni SpA, to stable from positive. In addition, the 'BBB' counterparty credit rating on Unipol Gruppo Finanziario SpA, as well as the 'A-' counterparty credit and insurer financial strength ratings on UGF Assicurazioni SpA were affirmed. The outlook revision follows full-year 2008 results that were worse than expected and reflects our anticipation that results will be constrained over the medium term. As a result, we do not now expect UGF's financial profile to support an upgrade of the insurer financial strength rating to 'A' over the coming two years. The rating on UGF group (referred to...
Companies mentioned in this report are: Unipol Gruppo Finanziario SpA,UGF Assicurazioni SpA
Action: Outlook: Stable
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Unipol Gruppo Finanziario SpA,UGF Assicurazioni SpA