S&P ups Eurasia Insurance

Standard & Poor's said it raised the long-term counterparty credit and financial strength ratings on Eurasia Insurance Co. to BB from BB-, along with its national scale rating to kzA from kzA-.

The outlook is stable.

The upgrade reflects the general improvement in the company's financial profile, mainly through improvements in the quality and liquidity of the investment portfolio, S&P said.

There also has been an improvement in relative capitalization, given less rapid growth in prospective exposures than previously anticipated, the agency said.

The ratings continue to reflect economic and industry risks in the domestic market, S&P added.

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