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Belarusian National Reinsurance Organization Jun 11
Standard & Poors, June 2011
Abstract
Sole reinsurer in Belarus and carries significant regulatory authority. Adequate capitalization. Marginal operating results. High economic and industry risks. Weak investments and liquidity. Low creditworthiness of the sovereign in local currency. The rating on the state-owned Belarusian National Reinsurance Organization (Belarus Re) reflects Standard & Poor's Ratings Services' view of the high economic and industry risks of operating in the Republic of Belarus (foreign currency B/Watch Neg/B; local currency B/Watch Neg/B) as well as the weak quality of Belarus Re's investment portfolio. These rating constraints are offset by Belarus Re's adequate capitalization, competitive advantages from its monopoly position in Belarus' reinsurance market, significant regulatory authority stipulated by legislation, and marginal operating results. The rating on Belarus Re reflects its stand-alone...
Companies mentioned in this report are: Belarusian National Reinsurance Organization
Action: Review
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: Full Analysis
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