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S&P Credit Research698 word report
published Oct 07, 2008
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S&P Credit Research
| Abstract: | LONDON (Standard&Poor's) Oct. 7, 2008--Standard&Poor's Ratings Services said today that it placed its 'BBB-' long-term counterparty credit and insurer financial strength ratings on Iceland-based insurer Tryggingamidstödin hf. (TM) and its subsidiary Norway-based non-life insurer NEMI Forsikring ASA (NEMI) on CreditWatch with negative implications. The CreditWatch placement follows yesterday's announcement by the government of Iceland, authorizing the Icelandic Financial Supervisory Authority, FME, to take over commercial banks under certain conditions. Following this, Standard&Poor's downgraded its long- and short-term foreign currency sovereign ratings on the Republic of Iceland to 'BBB/A-3' from 'A-/A-2' (see "Republic of Iceland Ratings Lowered And Removed From CreditWatch Negative," published on Oct. 6, 2008). Subsequently, Standard&Poor's also downgraded its long-
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| Brief Excerpt: | RESEARCH Ratings Definitions Icelandic Insurer TryggingamidstA¦din Group Ratings On Watch Neg On Increased Systemic Concerns Publication date: 07-Oct-2008 Primary Credit Analyst: Peter McClean, London (44) 20-7176-7075; peter_mcclean@standardandpoors.co...
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| Report Type: | Ratings Action
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| Ticker: | TM@IR
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| Issuer: | Tryggingamidstodin hf.
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| GICS: | Multi-line Insurance (40301030)
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| Sector: | Global Issuers, Insurance
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| Country: | Iceland
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| Region: | Europe, Middle East, Africa
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
Also from S&P Credit Research
- Tryggingamidstodin hf. $400.00
Good capitalization. Marginal operating performance. Marginal competitive position. The ratings on Iceland-based insurer Tryggingamidstödin hf. (TM) reflect the group's marginal operating performance and marginal competitive position, offset ...
- Summary: Tryggingamidstodin hf. $175.00
The ratings on Iceland-based insurer Tryggingamidstödin hf. (TM) reflect the group's marginal operating performance and marginal competitive position, offset by good capitalization. Standard&Poor's Ratings Services views TM's operating performance, ...
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- Research Update: Icelandic Insurer Tryggingamidstodin hf. 'BB' Ratings Affirmed; Removed From Watch Developing; Outlook Stable $175.00
Tryggingamidstödin hf. (TM) is demonstrating good capitalization despite a marginal operating performance and competitive position. We are affirming our 'BB' ratings on TM. At the same time, we are removing them from CreditWatch, where they ...
- Tryggingamidstödin hf. CreditWatch Implications Revised To Developing Following Shareholder Announcement $100.00
The largest shareholders in Tryggingamidstödin's owner, Icelandic Stodir, are now Glitnir Bank, Kaupthing Bank, and New Landsbanki. We are revising our CreditWatch implications on insurer Tryggingamidstödin to developing from negative. The ...
- Research Update: Tryggingamidstödin hf. CreditWatch Implications Revised To Developing Following Shareholder Announcement $175.00
The largest shareholders in Tryggingamidstödin's owner, Icelandic Stodir, are now Glitnir Bank, Kaupthing Bank, and New Landsbanki. We are revising our CreditWatch implications on insurer Tryggingamidstödin to developing from negative. The ...
- Icelandic Insurer Tryggingamidstodin Still On Watch Neg On Future Ownership Concerns $100.00
LONDON (Standard&Poor's) April 9, 2009--Standard&Poor's Ratings Services today commented on its CreditWatch placement of Iceland-based insurer Tryggingamidstödin hf. (TM). The 'BB' long-term counterparty credit and insurer financial strength ...
- Research Update: Icelandic Insurer Tryggingamidstodin Still On Watch Neg On Future Ownership Concerns $175.00
On April 9, 2009, Standard&Poor's Ratings Services commented on its CreditWatch placement of Iceland-based insurer Tryggingamidstödin hf. (TM). The 'BB' long-term counterparty credit and insurer financial strength ratings remain on CreditWatch ...
