EANS-Adhoc: UNIQA Insurance Group AG
Standard & Poor's raises UNIQA
Counterparty Credit Ratings
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other/Rating
17.10.2013
Standard & Poor's raises UNIQA Counterparty Credit Ratings
- S&P upgrades long-term rating of UNIQA Insurance Group AG to "A-"
- Rating for UNIQA Österreich Versicherungen AG and UNIQA Re AG raised to "A"
- Outlook still "stable"
After strengthening its capital structure with the recently completed Re-IPO,
the rating agency Standard & Poor's (S&P) has upgraded its ratings for UNIQA.
S&P has raised its rating for the holding company UNIQA Insurance Group AG from
"BBB+" to "A-". UNIQA Österreich Versicherungen AG and UNIQA Re AG were upgraded
from "A-" to "A". At the same time the rating for the subordinated debt issued
in summer 2013 was also upgraded one notch to "BBB". In light of the proceeds
of 757 million euros from the capital increase, S&P highlighted UNIQA's improved
financial and capital strength and is still assuming a positive trend in
earnings for the years 2013 to 2015.
S&P's outlook for all rated companies is "stable". The rating agency therefore
anticipates that UNIQA will continue to improve its capital and earnings
strength while optimising its risk and income profile in the investment area.
S&P expects UNIQA to continue the positive trend in underwriting, bottom-line
earnings in accordance with its strategic goals.
Further inquiry note:
UNIQA Insurance Group AG
Norbert Heller
Tel.: +43 (01) 211 75-3414
mailto:norbert.heller@uniqa.at
end of announcement euro adhoc
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issuer: UNIQA Insurance Group AG
Untere Donaustraße 21
A-1029 Wien
phone: 01/211 75-0
mail: investor.relations@uniqa.at
WWW: http://www.uniqagroup.com
sector: Insurance
ISIN: AT0000821103
indexes: WBI, ATX Prime
stockmarkets: official market: Wien
language: English
Original content of: UNIQA Insurance Group AG, transmitted by news aktuell