The US rating agency Standard & Poor's confirmed the valuation on the Italian insurance company on Monday Catholic, which remains a BBB. It was instead modified theoutlook, which, according to the provisions of the S&P criteria, was adjusted to that of the sovereign debt of the Italian Republic, revised from negative to stable on 23 October last.
Standard&Poor's also has the rating of both bond issues was revised upwards from BB to BB+ listed companies issued by the Cattolica group, "since the strengthening of the Group's Solvency II ratio and the capital increase reserved for Generali have significantly reduced the risk of coupon deferral", explains the insurance company in a note.
Finally, regarding the stand-alone credit profile of Cattolica, S&P confirmed the bbb+ rating, one step above the financial strength rating (BBB). “Although the capital increase has strengthened the financial risk profile di Cattolica, which is now rated satisfactory by Standard and Poor's – concludes the note – the agency maintains the rating unchanged, above all in consideration of the worsening of economic uncertainties and of the market in general”.
