|
|
 |
|
Viewing report
|
|
|
|
Saudi Arabia-Based Mediterranean & Gulf Cooperative Insurance and Reinsurance Co. Assigned 'A-' Ratings; Outlook Stable
Standard & Poors, May 2011
Abstract
We expect Mediterranean & Gulf Cooperative Insurance and Reinsurance Co. (MedGulf KSA) to maintain its position as one of the leading insurance companies in Saudi Arabia. Operating performance, liquidity, and financial flexibility at MedGulf KSA are strong, while capitalization is seen as good, relative to likely rapid business growth. We have therefore assigned 'A-' counterparty credit and financial strength ratings to the company. The stable outlook reflects our expectation that MedGulf KSA will further develop its already strong competitive position in Saudi Arabia, while maintaining strong operating performance and at least good overall capitalization. LONDON (Standard & Poor's) May 18, 2011--Standard & Poor's Ratings Services said today that it assigned its 'A-' counterparty credit and insurer financial strength ratings to...
Companies mentioned in this report are: Mediterranean & Gulf Cooperative Insurance and Reinsurance Co.
Action: New Rating
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.
|
|
|
|
