S&P reaffirms Cattolica's rating at BBB- outlook stable. Stand-alone credit profile unchanged at bbb+
S&P reaffirms Cattolica’s rating at BBB- outlook stable Stand-alone credit profile unchanged at bbb+
Verona, August 3rd, 2017
Today Standard & Poor’s has affirmed Cattolica’s rating at BBB- with a stable outlook. Cattolica’s stand-alone credit profile (SACP) is affirmed at bbb+, two notches higher than its financial strength rating at BBB-, which is still constrained by that of Italy, as set out under S&P’s criteria. The outlook is affirmed stable and it reflects the Italian market trends. The agency affirmed Cattolica’s financial risk profile which remains at an “upper adeguate” level, also thanks to a strong Solvency II capital adequacy, and a business risk profile “satisfactory”, due to a strong competitive position within the Italian market and the well-diversified distribution networks.