|
|
 |
|
Viewing report
|
|
|
|
Research Update: Swiss Re And Core Subsidiaries Ratings Put On Watch Negative Following Announcement Of More Investment Write-Downs Feb 09
Standard & Poors, Feb 2009
Abstract
On Feb. 5, 2009, Standard & Poor's Ratings Services placed its 'AA-' long-term counterparty credit and insurer financial strength ratings on Zurich-based global reinsurer Swiss Reinsurance Co. (Swiss Re) and its core affiliates on CreditWatch with negative implications. The CreditWatch placement comes in response to Swiss Re's disclosure that it incurred substantial additional asset write-downs during the fourth quarter of 2008, which will necessitate an increase in capital. Both the magnitude of the additional write-downs and the resulting need to raise capital are outside Standard & Poor's expectations. We expect to be able to resolve the CreditWatch within the next two weeks. In resolving the CreditWatch, we will focus on evaluating the impact we believe today's announcement will have on...
Action: On CreditWatch:Negative
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
|
|
|
|
