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S&P Credit Research568 word report
published Jan 08, 2009
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S&P Credit Research
| Abstract: | On Jan. 8, 2009, Standard&Poor's Ratings Services commented on its CreditWatch placement of Iceland-based insurer Tryggingamidstödin hf. (TM) and its subsidiary Norway-based non-life insurer NEMI Forsikring ASA (NEMI). The 'BB' long-term counterparty credit and insurer financial strength ratings on both entities remain on CreditWatch with negative implications. The ratings were originally placed on CreditWatch with negative implications on Oct. 7, 2008, following the application by TM's parent company, Stodir hf. (not rated), for bankruptcy protection. This was initially granted up until October 20, but has since been extended. Standard&Poor's considers that uncertainties remain over TM's future ownership and financial position. We understand that Stodir has obtained an extension to the period of bankruptcy protection until Jan.
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: Icelandic Insurer Tryggingamidstodin Group Still On Watch Neg On Future Ownership Concerns Publication date: 08-Jan-2009 Primary Credit Analyst: Peter McClean, London (44) 20-7176-7075;...
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| Report Type: | Research Update
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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.
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- 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 ...
