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'BBB+' Issue Ratings On Swedish Insurer If P&C Insurance Ltd.'s Subordinated Notes Are Final Dec 11
Standard & Poors, Dec 2011
Abstract
OVERVIEW Sweden-based If P&C Insurance Ltd. (publ) has issued fixed-to-floating-rate subordinated callable notes, due in 2041. We have finalized our 'BBB+' issue ratings on these securities and classify them as having 'intermediate equity content' according to our criteria. MILAN (Standard & Poor's) Dec. 14, 2011--Standard & Poor's Ratings Services said today that it has finalized its 'BBB+' issue ratings on the subordinated callable notes due in 2041 issued by Sweden-based insurer If P&C Insurance Ltd. (publ) (If P&C), following receipt of final terms and conditions. The rating reflects our standard notching for deeply subordinated debt issues: that is, two notches below the long-term counterparty credit rating on the issuer. We have analyzed and rated the notes on the understanding that:...
Companies mentioned in this report are: If P&C Insurance Holding Ltd. (publ),If P&C Insurance Ltd. (publ)
Action: Affirmed
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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