Fitch may cut Seoul Guarantee

Fitch Ratings said it placed Seoul Guarantee Insurance Co.'s insurer financial strength rating of A on Rating Watch negative.

The watch reflects the potential adverse impact on the company's business growth prospects and claims experience from the deteriorating South Korean economy, Fitch said.

The agency said that the company's business is vulnerable to the economic conditions of the South Korean market, given its high business concentration risk and limited business geographical diversification.

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