Abstract: PARIS (Standard&Poor's) Sept. 29, 2008--Standard&Poor's Ratings Services said today that it lowered the long-term counterparty credit and financial strength ratings on Fortis Corporate Insurance N.V. (FCI) to 'A-' from 'A'. The outlook is developing. "The downgrade reflects that of Fortis group core entities," said Standard&Poor's credit analyst Lotfi Elbarhdadi. Today, Standard&Poor's lowered the ratings on Fortis group core entities to 'A' from 'A+' (see "Fortis Group Core Entities Downgraded On Weakening Business Position; Outlook Developing," published Sept. 29, 2008, on RatingsDirect). One of FCI's major rating factors is the support from the Fortis group, and consequently the current ratings on Fortis group core entities lead to a cap on the ratings on

Brief Excerpt: RESEARCH Ratings Definitions Fortis Corporate Insurance N.V. Ratings Lowered To 'A-'; Outlook Developing Publication date: 29-Sep-2008 Primary Credit Analyst: Lotfi Elbarhdadi, Paris (33) 1-4420-6730; lotfi_elbarhdadi@standardandpoors.com...

Report Type: News
Ticker: 40236Z@BB
Issuer: Fortis Corporate Insurance N.V.
GICS: Property & Casualty Insurance (40301040)
Sector: Financial Institutions, Global Issuers, Insurance
Country: Netherlands
Region: Europe, Middle East, Africa
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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.