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Austrian Insurer Wiener St?dtische Allgemeine Vers. AG Assigned 'A' Ratings; Outlook Stable Aug 04
Standard & Poors, Aug 2004
Abstract
FRANKFURT (Standard & Poor's) Aug. 19, 2004--Standard & Poor's Ratings Services said today it assigned its 'A' long-term counterparty credit and insurer financial strength ratings to Austria-based Wiener St-dtische Allgemeine Vers. AG (WS AG). The outlook is stable. 'The ratings reflect the financial strength of the Wiener St-dtische insurance group (WS), to which WS AG is core, as well as the group's strong franchise in the Austrian, Czech, and Slovakian insurance markets, strong capitalization, and prudent investment strategy,' said Standard & Poor's ratings analyst J-rg Ritthaler. 'These strengths are partially offset by only adequate--albeit improving--operating performance.' This is largely due to WS' more recent acquisitions in Central Europe, particularly in Poland, which still need to be fully integrated and made...
Companies mentioned in this report are: Vienna Insurance Group AG Wiener Versicherung Gruppe,UniCredit Bank AG
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.
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