The German Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017
- Language: English
- 142 Pages
- Published: June 2012
- Region: World
LONDON (Standard & Poor's) Oct. 17, 2003--Standard & Poor's Ratings Services today commented on Germany-based global reinsurer Munich Reinsurance Co.'s (Munich Re; A+/Stable/--) proposal to raise -3.8 billion of equity capital by way of a fully underwritten rights issue during the fourth quarter of 2003. The issue, which equates to approximately 20% of adjusted shareholder funds as at June 30, 2003, will significantly improve the quantity and quality of Munich Re's capital when completed. "The capital raising underlines the very strong financial flexibility enjoyed by the group and supports Munich Re's long-term strategy," said Standard & Poor's credit analyst Stephen Searby. "It is also consistent with Standard & Poor's expectation that the group's capital adequacy ratio will be improved to...
Companies mentioned in this report are: Munich Reinsurance Co.
Action: S&P Event
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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Munich Reinsurance Co.
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