S&P changes Tokio Marine Compañía view

S&P said it revised its outlook on Tokio Marine Compañía de Seguros SA de CV to positive from stable.

The agency said it revised its outlook to reflect the same action taken on its parent and guarantor, Tokio Marine & Nichido Fire Insurance Co. Ltd., that further mirrors the outlook revision on Japan.

“Therefore, we are likely to upgrade TMNF and therefore TMX, if we raise the sovereign rating on Japan. Conversely, we may revise the outlook back to stable if we take a similar action on Japan,” S&P said in a news release.

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