S&P upgrades Cattolica's rating at BBB outlook stable
S&P upgrades Cattolica’s rating at BBB outlook stable
Verona, October 31st, 2017
Today Standard & Poor’s has raised Cattolica’s rating from BBB- to BBB. Outlook is affirmed stable. Cattolica’s rating follows, as set out under S&P’s criteria, the upgrade of Italy’s rating to BBB stable, made public on October, 27. Cattolica’s stand-alone credit profile (SACP) is affirmed at bbb+, one notch higher than Italy’s rating, thanks to an “upper adeguate” financial risk profile and a “strong” business risk profile that benefits from the improvements of the Italian insurance industry and from the updated assessment of country risk.