S&P Downgrades Munich Re
NU Online News Service, March 28, 12:27 p.m.EST?Standard & Poor's Ratings Services said it haslowered its long-term ratings of Munich Reinsurance Co. and itssubsidiaries, citing the company's poor financial results from thepast year.
The downgrades include counterparty credit and insurer financialstrength ratings for the Munich, Germany-based reinsurance giantand its core insurance and reinsurance subsidiaries, whose ratingswere cut to "double-A-minus" from "double-A-plus" with a negativeoutlook.
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