Fondiaria-Sai: Standard & Poor’s confirms rating, but assigns negative outlook from stable

On September 23, 2011, the rating agency Standard & Poor’s confirmed the rating of BBB- but lowered the Outlook to Negative for Fondiaria-SAI S.p.A. and its principal subsidiary Milano Assicurazioni S.p.A..

The Outlook was revised as the agency considers that the Group’s balance sheet may be further impacted by the uncertain economic climate and the volatility of the financial markets.

Standard & Poor’s affirms however that Fondiaria-SAI remains highly competitive and that the operating performance is improving thanks to the actions taken by management.