S&P upgrades Sogaz

S&P said it raised the long-term issuer credit and financial strength ratings on Sogaz Insurance to BBB from BBB- and removed the ratings from CreditWatch with developing implications.

The outlook is stable.

Sogaz's sound operating performance will support the group's creditworthiness over the medium term, in particular regarding its strategic goals and capital management, S&P said.

The company has strengthened its investment portfolio's credit quality by focusing on investment-grade instruments, in particular sovereign and government related bonds and fixed-income instruments of highly systemically important banks, the agency said.

The stable outlook reflects a view that the group will continue to advance its strategy to sustain its business position and strengthen its capital and earnings position within the next two years, S&P said.

© 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.