Prudential Financial’s rated ‘BBB’ by Fitch
Fitch Ratings has assigned a ‘BBB’ rating to Prudential Financial, Inc.’s recent issuance of $500 million of 2.75% three-year and $750 million of five-year 3.875% notes. The Rating Outlook is Stable. PRU’s other ratings are not affected by this rating action. See a complete list of ratings at the end of this release. PRU’s leverage remains within expectations for the current rating. Proceeds from the debt issuance are expected to be used for general corporate purposes. Fitch’s ratings on PRU and its subsidiaries... Lire la suite
ING IM assigned a CMBS primary servicer rating of ‘CPS3+’ by Fitch
ING IM’s primary servicer rating is based on the long tenure of the company’s management team, its demonstrated commitment to technology, and its extensive experience as a commercial real estate loan servicer on behalf of ING’s U.S. life insurance companies and other clients. The rating also reflects the financial strength of the parent company, ING Group. While the company does not act as a CMBS loan servicer, it has more than 50 years of experience managing commercial real estate loans. As... Lire la suite
Catlin Group financial strength rated ‘A’ by Standard & Poor’s
Catlin Group Limited, the international speciality property/casualty insurer and reinsurer, has been rated to to ‘A’ from ‘A-’ from Standard & Poor’s Rating Services. This concerns the insurer financial strength ratings of Catlin’s core operating subsidiaries Standard & Poor’s has also upgraded its Lloyd’s Syndicate Assessment (‘LSA’) of the Catlin Syndicate at Lloyd’s (Syndicate 2003) to ‘4’ from ‘4-’. In addition, Standard & Poor’s raised its long-term subordinated debt rating on the preferred shares... Lire la suite
XL Capital rated stable by Moody’s
Moody’s Investors Service raised its ratings outlook on XL Capital Ltd. to stable from negative due to improved capitalization and financial flexibility, as well as the stabilization of the insurer’s business franchise. XL’s shareholders’ equity has meaningfully rebounded as financial markets recovered–primarily due to significantly reduced unrealized losses on investments and good underwriting profitability in its core operations. The company’s refocused attention on property-and-casualty insurance was also noted... Lire la suite
Wagram Insurance ‘A+’ ratings affirmed in line with parent, Electricite de France
Standard & Poor’s Ratings Services said today that it affirmed its ‘A+’ long-term counterparty credit and insurer financial strength ratings on Dublin-based Wagram Insurance Co. Ltd. (Wagram). The outlook is stable. Wagram is the wholly owned, Dublin-based captive subsidiary of electric utility company Electricite de France S.A. (EDF; A+/Stable/A-1), and qualifies as a captive insurer under Standard & Poor’s rating criteria. As such, we rate Wagram at a level commensurate with the ratings on its parent. Wagram is... Lire la suite
