Bulletin: Nordic Insurer If P&C Insurance Ratings Unaffected By Proposed Sale Of Sampo Bank PLC Nov 06
- ID: 2025072
- November 2006
- Standard & Poors
LONDON (Standard & Poor's) Nov. 9, 2006--Standard & Poor's Ratings Services said today that its ratings and outlook on Sweden-based If P&C Insurance Ltd. (publ) (A/Stable/--) and Finland-based If P&C Insurance Co. Ltd. (A/Stable/--)--collectively the If P&C Insurance group (If)--are not immediately affected by Sampo PLC's proposed sale of its Finland-based banking operation, Sampo Bank PLC (A/Watch Pos/A-1), to Denmark-based Danske Bank A/S (AA-/Stable/A-1+). Sampo PLC is expected to retain sufficient transaction proceeds to maintain group consolidated capital adequacy and financial leverage at strong levels. Dividend income requirements at the holding company, Sampo PLC, are not expected to be too onerous for If, which will become the main source of cash flow to service group debt obligations and dividends. The...
Companies mentioned in this report are:
- If P&C Insurance Ltd. (publ)
- Danske Bank A/S
- Danske Bank PLC
- If P&C Insurance Co. Ltd.
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