U.K.-Based Groupama Insurance Co. 'BB' Ratings On Watch Positive On Announced Acquisition By Ageas (UK) Ltd. Oct 12
- Language: English
- Published: October 2012
- Region: Great Britain, United Kingdom
We understand that French insurer Groupama will cover its regulatory solvency margin by year-end 2011 without recognition of CDC's planned entrance into subsidiary GAN Eurocourtage's capital. We are nevertheless maintaining our 'BBB-' ratings on Groupama S.A. and its guaranteed subsidiaries on CreditWatch negative. We are also maintaining our 'BB' ratings on Groupama's hybrid capital issues on CreditWatch negative. We are also maintaining our 'BB+' ratings on Groupama GAN Vie and our 'BBB-/A-3' ratings on Groupama Banque on CreditWatch negative. The CreditWatch placement continues to reflect our view of the execution risks associated with management's plan to rebuild regulatory solvency. PARIS (Standard & Poor's) March 5, 2012--Standard & Poor's Ratings Services said today that it has maintained its 'BBB-' long-term counterparty...
Companies mentioned in this report are: Groupama S.A.,GAN Assurances,Groupama Insurance Co. Ltd.,Groupama Banque,GAN Eurocourtage,Groupama GAN Vie
Action: CreditWatch Update
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Research type: News
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Groupama S.A.,GAN Assurances,Groupama Insurance Co. Ltd.,Groupama Banque,GAN Eurocourtage,Groupama GAN Vie