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S&P Credit Research698 word report
published Jul 03, 2009
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S&P Credit Research
| 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. LONDON (Standard&Poor's) July 3, 2009--Standard&Poor's Ratings Services said today that it 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
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| Brief Excerpt: | RESEARCH Ratings Definitions TryggingamidstA¦din hf. CreditWatch Implications Revised To Developing Following Shareholder Announcement Publication date: 03-Jul-2009 Primary Credit Analyst: Peter McClean, London (44) 20-7176-7075;...
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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
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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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