S&P assigns A counterparty rating to Korean Re

Standard & Poor’s said it assigned an A long-term foreign-currency counterparty credit rating to Korean Reinsurance Co. and affirmed its A long-term financial strength and local-currency counterparty credit ratings.

The outlook is stable.

The A long-term foreign-currency counterparty credit rating on Korean Re is equal to the assigned local-currency counterparty credit rating.

The ratings also reflect the company’s strong business risk profile, supported by its strong competitive position, S&P said.

The ratings also consider the moderately strong assessment of its financial risk profile, which will continue to be backed by sufficient capitalization over the next 24 months, the agency said.

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