Slow Turnaround For Europeans InternationalEditor
A ratings analyst in London equated thesituation in the European insurance and reinsurance sector tosupertankers that are being slowly turned around.
That sentiment was reflected in recent downgrades. One was byMoodys Investors Service of Royal & SunAlliance andsubsidiaries–by one notch to “Baa2″ from “Baa1″. The other camefrom Standard & Poors, which lowered long-term counterpartycredit and insurer financial strength ratings on the Paris-basedreinsurer SCOR and its subsidiaries to “triple-B-plus” from“A-minus.”
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