| Abstract: | 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 CreditWatch placement reflects continuing uncertainties, particularly surrounding future strategy and operating performance. On July 3, 2009, Standard&Poor's Ratings Services maintained its CreditWatch placement on the 'BB' insurer financial strength and long-term counterparty credit ratings on Iceland-based insurer Tryggingamidstödin hf. (TM), but revised the implications to developing from negative. The ratings on TM were originally placed on CreditWatch with negative implications on Oct. 7, 2008, following increased systemic concerns surrounding the Icelandic economy and uncertainty over TM's future ownership. TM is owned by Iceland-based holding company, Stodir hf.
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