Fondiaria-Sai S.p.A.: Standard & Poor’s revises Group’s rating to BBB from BBB+; outlook improves from negative to stable

The rating agency Standard & Poor’s today revised the rating of the Fondiaria-SAI Group and its principal subsidiary Milano Assicurazioni S.p.A. from BBB+ to BBB.
This revision is due to reduced funding opportunities which, in the opinion of the rating agency, stems from the weakening of the financial profile of Premafin Finanziaria; the capacity of the Group to recover the profit levels of the recent past has been hindered by the continuation of the crisis on the financial markets, in addition to a difficult non-life insurance market, particularly within the Auto sector, in which the Group is the undisputed leader.

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