MILAN (Reuters) – International rating agency Standard &Poor's has removed Generali from its Credit Watch list afterascertaining that Italy's biggest insurer would not exhaustits regulatory capital even if its home country were to default onits debt.
|In a statement, the rating agency said it affirmed Generali'srating at A-, two notches above Italy's sovereign rating, witha negative outlook.
|Back in November, Generali had reacted angrily at Standard &Poor's decision to threaten a downgrade by putting it on CreditWatch, wa move hich Generali's CEO Mario Greco had called “a grossmistake.”
|(Reporting by Lisa Jucca, editing by Silvia Aloisi)
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