FRANKFURT (Standard&Poor's) Aug 25, 2006--Standard&Poor's Ratings Services said today it affirmed its 'A+' counterparty credit and insurer financial strength ratings on Germany-based R+V Versicherung AG (RVV), the holding and reinsurance company of the R+V composite insurance group (R+V). The outlook is stable. "The ratings are based on RVV's low debt leverage and strong liquidity as well as on the strong credit qualities of its major operating subsidiaries, reflecting R+V's very strong capitalization, very strong competitive position, and conservative investment practices," said Standard&Poor's credit analyst Ralf Bender. These strengths are partly offset by the group's lower-than-average non-life operating performance and its exposure to the competitive German motor market. The rating on RVV is one notch
