Munich Re Put On Watch

NU Online News Service, March 26, 1:53 p.m.EST?Moody's Investors Service announced that it has placedGerman-based Munich Reinsurance Group on review for possibledowngrade.

The New York City-based credit rating service said the ratingaction is being taken because of concerns with the company'scapitalization. Moody's said this is primarily due to the reducedvalue of its cross shareholdings, principally in Allianz and HVB,and the expectations that Munich Re's earnings could be hurt frommodest investment returns and impairment charges.

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