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'BBB+' Issue Ratings On Swedish Insurer If P&C Insurance Ltd.'s Subordinated Notes Are Final Dec 11
Standard & Poors, December 2011
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)
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Research type: News
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If P&C Insurance Holding Ltd. (publ),If P&C Insurance Ltd. (publ)