Kot Insurance Co. A.G. Ratings Affirmed At 'A' On Strong Capitalization Apr 11

Standard & Poors, April 2011

Abstract
We view Kot as a core captive subsidiary of PEMEX, its sole client, and as having strong capitalization and good reinsurance practices. We are affirming our 'A' local currency counterparty credit and financial strength ratings on Kot. The stable outlook reflects our belief that Kot will maintain its status as a core subsidiary of PEMEX and continue to manage itself prudently. MEXICO CITY (Standard & Poor's) April 13, 2011--Standard & Poor's Ratings Services said today that it affirmed its 'A' local currency counterparty credit and financial strength ratings on Kot Insurance Co. A.G. The outlook is stable. The ratings on Kot are based on our view of the company as a core captive subsidiary of Mexico-based oil company Petr-leos Mexicanos...

Companies mentioned in this report are: Kot Insurance Company A.G.,Petroleos Mexicanos (PEMEX)
Action: Affirmed
Action: Outlook: Stable

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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.

Kot Insurance Company A.G.,Petroleos Mexicanos (PEMEX)

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