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
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  • Unipol Assicurazioni SpA
  • MORE

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

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.

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.

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- Unipol Gruppo Finanziario SpA
- Unipol Assicurazioni SpA

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Note: Product cover images may vary from those shown




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