|
|
 |
|
Viewing report
|
|
|
|
BULLETIN: Atradius Insurance Group Ratings Unchanged After ?86.5 Million Capital Increase Oct 04
Standard & Poors, Oct 2004
Abstract
LONDON (Standard & Poor's) Oct. 11, 2004--Standard & Poor's Ratings Services said today that its ratings and outlook on Netherlands-based credit insurance group Atradius (main operating entities are rated A/Stable/--) are unaffected by the group's announcement that it will receive a capital increase of -86.5 million, equally shared between Madrid-based credit insurance company Compa--a Espa-ola de Seguros y Reaseguros de Cr-dito y Cauci-n S.A. (CyC; A+/Stable/--) and one of CyC's major shareholders, Spain-based Seguros Catalana Occidente (SCO; not rated). The capital increase will considerably boost shareholders' funds, although this will be offset by reduced cessions to reinsurers over time. The group ceded 62.5% of its premiums to reinsurers in 2003. As the result of this transaction, Atradius' shareholder structure will...
Companies mentioned in this report are: Compania Espanola de Seguros y Reaseguros de Credito y Caucion S.A.,Deutsche Bank AG,Swiss Reinsurance Co. Ltd.,Atradius Re S.A.,Atradius N.V.,Atradius Reinsurance Ltd.,Atradius Finance B.V.,Atradius Kreditversicherung AG,Atradius Trade Credit Insurance Inc.,Atradius Credit Insurance N.V.
Action: Bulletin
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.
|
|
|
|
