S&P affirms Seguros Generales

S&P has affirmed its global scale issuer credit ratings on Seguros Generales Suramericana SA at BBB-, after publishing revised insurer and group rating methodologies on July 1.

The ratings reflect the firm’s core group status to Suramericana SA, which has a bbb- group credit profile. Its creditworthiness continues to benefit from its competitive advantages as a market leader, its increasing business and geographic diversification, and its ability to generate earnings and build capital. But capital adequacy and S&P’s financial measures still partially limit its credit profile, S&P said in a news release.

The outlook is stable and mirrors S&P’s foreign currency rating Colombia, which constrains the group’s credit profile and ratings on its core subsidiary.

© 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.