- Language: English
- Published: July 2012
- Region: Italy
Research Update: Italian Insurer Societa Cattolica di Assicurazione Ratings Lowered To 'BBB' On Weaker Capitalization; Outlook Negative Jan 12
- Published: January 2012
- Region: Italy
- Standard & Poors
Difficult financial market conditions and our view of increased credit risk in Italy have weakened Cattolica's risk-adjusted capital adequacy to marginal levels. We are therefore lowering the ratings on Cattolica to 'BBB' from 'BBB+'. We are also removing the ratings from CreditWatch, where they were placed with negative implications on Dec. 9, 2011. The negative outlook reflects our view that the current market conditions and economic outlook in Italy and the eurozone will continue to weigh on Cattolica's financial profile. On Jan. 27, 2012, Standard & Poor's Ratings Services lowered its long-term counterparty credit and insurer financial strength ratings on Italy-based composite insurer Societ- Cattolica di Assicurazione (Cattolica) to 'BBB' from 'BBB+'. At the same time, we removed all ratings...
Companies mentioned in this report are: Societa Cattolica di Assicurazione
Action: Outlook: Negative
Action: Removed From CreditWatch
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Societa Cattolica di Assicurazione