...Rating Revision Following Methodology Change: Fitch Ratings downgraded the ratings of Sul America S.A. (SASA) in August 2015, following the implementation of the update of its notching criteria for the insurance industry. Fitch also revised the Outlook on SASA's long-term ratings to Negative from Stable, mirroring the constraint imposed by Brazil's sovereign ratings (local currency long-term Issuer Default Ratings [IDR] BBB/Outlook Negative) under the updated criteria. The rating changes do not reflect any changes in the company's fundamentals. Leading in Health, Auto: SASA is a multiline insurer with significant market shares in health (9.4%) and auto (9.3%) at year-end 2014. In 2014, premium and contribution growth was a solid 14%, compared with sector growth of 11%. Fitch expects SASA to grow broadly in line with the market and maintain its leadership in its key businesses in 2015. Technical Results Stable: In 2014, SASA's performance remained adequate and stable in comparison with 2013....
