Capital/Financing Update • Oct 17, 2013
Capital/Financing Update
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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
other/Rating
Standard & Poor's raises UNIQA Counterparty Credit Ratings
S&P upgrades long-term rating of UNIQA Insurance Group AG to "A-"
Rating for UNIQA Österreich Versicherungen AG and UNIQA Re AG raised to "A"
After strengthening its capital structure with the recently completed Re-IPO, the rating agency Standard & Poor's (S&P) has upgraded its ratings for UNIQA. S&P has raised its rating for the holding company UNIQA Insurance Group AG from "BBB+" to "A-". UNIQA Österreich Versicherungen AG and UNIQA Re AG were upgraded from "A-" to "A". At the same time the rating for the subordinated debt issued in summer 2013 was also upgraded one notch to "BBB". In light of the proceeds of 757 million euros from the capital increase, S&P highlighted UNIQA's improved financial and capital strength and is still assuming a positive trend in earnings for the years 2013 to 2015.
S&P's outlook for all rated companies is "stable". The rating agency therefore anticipates that UNIQA will continue to improve its capital and earnings strength while optimising its risk and income profile in the investment area. S&P expects UNIQA to continue the positive trend in underwriting, bottom-line earnings in accordance with its strategic goals.
Further inquiry note: UNIQA Insurance Group AG
Norbert Heller
Tel.: +43 (01) 211 75-3414
| mailto:[email protected] | |
|---|---|
| issuer: | UNIQA Insurance Group AG |
| Untere Donaustraße 21 | |
| A-1029 Wien | |
| phone: | 01/211 75-0 |
| mail: | [email protected] |
| WWW: | http://www.uniqagroup.com |
| sector: | Insurance |
| ISIN: | AT0000821103 |
| indexes: | WBI, ATX Prime |
| stockmarkets: official market: Wien | |
| language: | English |
Aussendung übermittelt durch euro adhoc The European Investor Relations Service
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