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
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Research type: News
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