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Insurance Group Holding Company Suncorp Group Ltd. Assigned 'A' Rating: Outlook Stable Feb 12 Product Image

Insurance Group Holding Company Suncorp Group Ltd. Assigned 'A' Rating: Outlook Stable Feb 12

  • ID: 2049345
  • February 2012
  • Standard & Poors

Abstract
MELBOURNE (Standard & Poor's) Feb. 6, 2012-Standard & Poor's Ratings Services said today that it had assigned its 'A' issuer credit rating to Suncorp Group Ltd. (SGL), the listed entity and holding company of the Suncorp group of operating companies. The outlook is stable. Suncorp group includes leading general insurance, banking, life insurance, superannuation, and investment businesses operating in Australia and New Zealand. Our current issuer credit rating on Suncorp's core operating companies is 'A+' with a stable outlook. "We rate SGL one notch below its core operating companies because, as a holding company, it must rely substantially on dividends or capital up-streamed from its operating subsidiaries in order to service any obligations it may have," Standard & Poor's credit...

Companies mentioned in this report are: Suncorp Group Ltd.
Action: New Rating
Action: Outlook: Stable

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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