LONDON (Standard&Poor's CreditWire) April 18, 2001--Standard&Poor's today assigned its single-'A'-plus counterparty credit rating to Corporación Mapfre Compania Internacional de Reaseguros S.A. (Corporación Mapfre; insurer financial strength rating, double-'A'-minus). The outlook is stable. At the same time, Standard&Poor's assigned its single-'A'-plus senior unsecured rating to the upcoming senior bond issue by Corporación Mapfre. The total amount of the issue is expected to be €275 million in the form of a simple debenture, maturing in 2011. The proceeds from the issue will enhance the group's capital base and could be used to finance prospective acquisitions in Spain, Portugal, and Latin America, although no major acquisitions are imminent. Prospective group consolidated interest coverage is extremely strong, in
