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BULLETIN: Swiss Life to Implement Cost-Reduction Program Feb 02
Standard & Poors, Feb 2002
Abstract
Standard & Poor's said today that its ratings on Swiss Life/Schweizerische Lebensversicherungs- und Rentenanstalt AG (Swiss Life; A/Negative/--) are unaffected by the company's announcement, on January 31, of a rigorous cost-reduction program. The decision to implement a cost-cutting program and to consider suspending dividend payments is consistent with Swiss Life management's commitment to rebuild the group's capital base. In addition, Swiss Life will continue to explore further steps to bring the group's risk-based capitalization to a level that is consistent with the current rating category. The initiatives announced by Swiss Life are also expected to enhance the group's prospective earnings profile....
Companies mentioned in this report are: Swiss Life AG
Action: S&P Event
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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