Research Update: Italian Insurance Group UGF Outlook Revised To Stable; Ratings Affirmed On Strong Fundamentals Mar 09
- ID: 1723492
- March 2009
- Region: Italy
- Standard & Poors
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
- Unipol Assicurazioni SpA
Action: Outlook: Stable
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Product Type: Research Update
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