S&P: Ceska on positive watch

Standard & Poor's said it placed its BBB counterparty credit and insurer financial strength ratings on Ceska pojistovna as on CreditWatch with positive implications.

The agency said that the CreditWatch placement follows the announcement that Assicurazioni Generali SpA (AA/stable) has entered into a preliminary joint venture agreement to acquire a 51% stake in CZI Holdings a.s. (not rated), the 100% owner of Ceska.

S&P said it considers that on the successful completion of Generali's acquisition of CZI Holdings, the ratings on Ceska will likely be raised by up to three notches.

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