(Editor's note: Due to a technical error, the ratings list did not appear in the version of this article published earlier. A corrected version follows.) FRANKFURT (Standard&Poor's) March 20, 2003--Standard&Poor's Ratings Services said today it lowered its long-term insurer financial strength and counterparty credit ratings on Munich-based Allianz AG (AZAG) and various core operating entities to 'AA-' from 'AA' based on the Allianz group's (Allianz) disappointing earnings performance, weakened capitalization and financial flexibility. The outlook is negative. As a consequence of the downgrade on AZAG, Standard&Poor's lowered to 'A+' the ratings on all AZAG's strategically important subsidiaries, which were previously rated 'AA-' (see ratings list below). The outlook on these subsidiaries is negative, with
