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Kot Insurance Co. A.G. Ratings Affirmed At 'A' On Strong Capitalization Apr 11
Standard & Poors, April 2011
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: 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.
Research type: News
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Kot Insurance Company A.G.,Petroleos Mexicanos (PEMEX)