The Anglo-American rating agency Fitch improved the opinion on the group's financial solidity (Ifs). Generali, taking it from A- to A. The A- rating on creditworthiness (IDR) was confirmed. The outlook remains negative on both assessments. The insurance group made it known in a note.
The Lion also underlines that the increase "mainly derives from the removal of the 'ceiling' represented by the sovereign rating following the adoption by Fitch of new criteria to incorporate sovereign risk in the rating process of insurance companies".
In particular, “Fitch has abandoned the use of “top-down” constraints on sovereign ratings and has moved to define within a “bottom up” analysis how country risk is included in each key credit factor”, writes Generali again.
About an hour after the start of trading, the Generali share on the Stock Exchange is up 1%, to 15,965 euros.
