|
|
 |
|
Viewing report
|
|
|
|
Belarusian National Reinsurance Organization Downgraded Following Sovereign Downgrade; Outlook Negative Oct 11
Standard & Poors, Oct 2011
Abstract
On Sept. 26, 2011, we downgraded Belarus to 'B-' from 'B' and the outlook is negative. We do not normally rate domestic insurers higher than the sovereign local currency rating. In our view, following the economic downturn in Belarus, the quality of Belarus Re's investments is weakening because all of them are in Belarusian banks. We are lowering the ratings on Belarus Re to 'B-' from 'B' and removing them from CreditWatch negative. The negative outlook mirrors the outlook on Belarus. MOSCOW (Standard & Poor's) Oct. 4, 2011--Standard & Poor's Ratings Services said that it had lowered its long-term counterparty credit and insurer financial strength ratings on Belarusian National Reinsurance Organization (Belarus Re) to 'B-' from 'B' and removed them...
Companies mentioned in this report are: Belarusian National Reinsurance Organization
Action: Downgraded
Action: Outlook: Negative
Action: Removed From CreditWatch
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.
|
|
|
|
