S&P lifts AIG Seguros stand-alone rating

Standard & Poor’s said it affirmed an A global scale and mxAAA national scale financial strength ratings on AIG Seguros Mexico, SA de CV.

The agency said it revised the company’s stand-alone credit profile to BBB+ from BBB.

S&P said Mexico's A local-currency rating limits the global scale rating on the company.

The outlook remains stable.

The ratings reflect the company’s satisfactory business risk profile and moderately strong financial risk profile, S&P said.

The company’s competitive position is considered adequate given its ability to leverage AIG’s strong global brand in Mexico’s insurance market, adequate operating performance and sound product diversification in the property and casualty insurance sector, the agency said.

The company also maintains strong capitalization levels through continual capital inflows from the parent, which more than offset recurrent bottom-line losses, S&P said.

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