S&P puts Societa Cattolica on positive watch

S&P said it placed its BBB long-term issuer credit rating on Societa Cattolica di Assicurazione on CreditWatch with positive implications. The agency also placed Cattolica's hybrid debt issues on CreditWatch with positive implications.

Assicurazioni Generali SpA launched a cash voluntary public tender offer on May 31, for all the Cattolica shares it does not own.

The agency said it could raise the ratings on Cattolica by one notch or more over the next few months if Generali acquires the company.

S&P said it plans to resolve the CreditWatch once Generali concludes its offer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.