S&P: Allianz view negative

Standard & Poor's said it revised the outlook on its long-term counterparty credit and insurer financial strength ratings on Allianz SE and related core and strategically important subsidiaries to negative.

The agency removed all ratings from CreditWatch where they were placed with negative implications on Dec. 9. At the same time, the agency said it affirmed the AA long-term ratings on Allianz SE and its core subsidiaries as well as the AA- ratings on affected strategically important subsidiaries.

S&P said the outlook revision reflects its view that capital adequacy has weakened to a level close to minimum expectations for the current ratings and the risk that it could weaken further in light of economic pressures in the euro zone coupled with challenging financial market conditions.

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