S&P Downgrades Hannover Re Unit
NU Online News Service, April 8, 4:13 p.m.EDT?Standard & Poor's Ratings Services announced thelowering of counterparty credit and financial strength rating onthe Insurance Corp. of Hannover (ICH), a unit of Hannover Re, to"triple-B-plus' from "A." with a "stable" outlook.
The main reason for the downgrade, S&P said, is ICH's weakoperating performance, which the rating agency does not expect toimprove significantly this year.
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