Moody’s lowers FWD view to negative

Moody's Investors Service said it affirmed the Baa2 issuer and senior unsecured ratings of FWD Ltd. and changed the outlook to negative from stable.

At the same time, the agency affirmed the A3 insurance financial strength rating of FWD Life Insurance Co. (Bermuda) Ltd. – a subsidiary of FWD – with a stable outlook.

Moody’s said the outlook change reflects its view that the benefits to holding company creditors gained from diversification from ownership of FWD General Insurance Co. Ltd. (unrated), the non-life insurance subsidiary of FWD, through contributions of dividends, have become less evident, relative to the group's financial obligations.

© 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.