Tryg Subsidiaries TBi Ratings Lowered to 'BBB'; All Subsidiaries Ratings Remain on Watch Neg Aug 02

Standard & Poors, August 2002

Abstract
LONDON (Standard & Poor's) Aug. 20, 2002--Following its annual review, Standard & Poor's Ratings Services said today it lowered its long-term counterparty credit and insurer financial strength ratings on Denmark-based reinsurer Tryg-Baltica, internationalt forsikringsselskab A/S (TBi DK) and its wholly owned, U.K.-based insurance subsidiary Tryg-Baltica International (UK) Ltd. (TBi UK) (collectively TBi) to triple-'B' from triple-'B'-plus. The ratings on TBi DK and TBi UK remain on CreditWatch with negative implications, pending completion of the acquisition by Tryg I Danmark smba (TiD) of Nordea's general insurance activities (TG), which include TBi. The ratings were placed on CreditWatch with negative implications on June 20, 2002, following the announcement by TBi's ultimate parent, Nordea (core entities of the group are rated A+/Stable/A-1), that...

Companies mentioned in this report are:
- Sirius (Denmark) forsikringsselskab A/S
- Tryg Garantiforsikring A/S
- Chevanstell Ltd.
- Nordea Bank AB

Action: Various Rating Actions

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.

- Sirius (Denmark) forsikringsselskab A/S
- Tryg Garantiforsikring A/S
- Chevanstell Ltd.
- Nordea Bank AB

Customers who bought this item also bought

• UK Civil Security Market - Revenue Opportunities and Stakeholder
• UK Manned Security Services Market Development Report
• The UK Education Industry Forecast to 2015 - Dominance of Higher Education Sector
• The United Kingdom Defense Industry - Competitive Landscape and Strategic Insights to 2017: Market Profile
• Revenue Opportunities and Stakeholder Mapping in the United Kingdom Land Defence Market
• UK Defence Equipment Market Development Report
• The United Kingdom Defense Industry - Market Attractiveness and Emerging Opportunities to 2017: Market Profile
• Further & Higher Education Market Report 2013
• Defense Expenditure in the United Kingdom to 2017: Market Review
• Future of the UK Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2017