Standard & Poor's Ratings Services has revised...
Standard & Poor's Ratings Services today revised to stable from negative its outlook on Assicurazioni Generali SpA, the parent and main property-casualty company of the pan-European insurance group Generali, and related entities. At the same time, the counterparty credit and insurer financial strength ratings were affirmed at 'AA'.
"The outlook change follows the presentation of the company's half-year 2004 results, which confirm the improving trend in operating performance established in 2003," explained Standard & Poor's credit analyst Laura Santori.
"The group is successfully executing its strategy, focusing on the improvement in business fundamentals. The execution risk that drove the negative outlook has now disappeared, and little uncertainty remains with regard to the ability of the group to deliver a strong stream of earnings in normal market conditions, while still maintaining healthy growth."
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