S&P lowers Colombian insurers

S&P said it lowered the issuer credit ratings on Seguros de Vida Suramericana SA, Seguros Generales Suramericana SA and Seguros de Riesgos Laborales Suramericana SA to BBB- from BBB.

The agency also lowered the ratings on Cardif Colombia Seguros Generales SA to BBB from BBB+.

The outlook is stable.

The downgrades follow a similar action on the foreign and local currency sovereign ratings on Colombia, S&P explained.

The agency said the ratings are based on views of the credit profiles, the potential for external support from a parent with stronger credit quality and the constraints imposed by Colombia's sovereign ratings.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.