2nd Debenture Issuance (BRL150 million) due 2011: To 'A+(bra)'
Rating Outlook Stable, from 'A(bra)'
Rating Outlook Stable
Against this backdrop, underlying structured finance collateral - both consumer and corporate - generally also delivered solid results and continued to support an environment of more upgrades than downgrades in structured finance,' said Stephanie Mah, Senior Director, Credit Market Research, Fitch
Ratings.
The implementation of the new
ratings standards was done concurrently for most insurance sectors globally, and follows the publication of an exposure draft of the noted methodology report on Dec.
Fitch upgrades the IFS
ratings from 'BBB' to 'BBB+' for:
Foreign Currency; 'BB'; 'BB+',
Rating Outlook Positive
Rating Outlook Negative (removed from
Rating Watch Negative).
established in 1899, is the world's oldest and most authoritative insurance
rating and information source.
2%, respectively, of the combination of S&P/Fitch and Moody's/Fitch
ratings were exactly the same or within one notch;
Greater details on Fitch's new guidelines governing notching of issue
ratings relative to the IDR, as well as the notching between Insurer Financial Strength
Ratings (IFS) at an operating company level and debt
ratings at a holding company level are available in the noted methodology report.
Fitch is implementing these new
ratings standards concurrently for most insurance sectors globally, following the publication of an exposure draft of the noted methodology report on Dec.
More than a decade ago the Europeans missed their chance to establish a major
rating agency more attuned to the bank-based financial systems prevailing in Europe rather than the capital market-based financial system and the highly developed equity culture of the United States.
Many insurers have multiple
rating engines in use throughout their companies, which inhibit real-time pricing, quoting and issuance.
