NU Online News Service, Feb. 24, 1:08 p.m. EST

Moody’s Investor Services said it will take no immediate action on New Zealand and Australia issuers as a result of the Christchurch earthquake on Feb. 21 but that losses could hinge on whether this quake is considered a new event.

The “immediate consequences of the earthquake—and likely direct consequences over time to rated issuers—are clearly negative but do not pose immediate rating threats,” Moody’s said in a note.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.