Moody's affirms Mapfre

Moody's Latin America said it has affirmed the Ba3 global local currency and the Aa2.ar Argentina national-scale insurance financial strength ratings of Mapfre Argentina Seguros SA, Mapfre Argentina ART SA and Mapfre Argentina Seguros de Vida SA.

The outlook remains stable.

According to Moody's, the affirmation of the ratings reflects primarily the expectations that Mapfre SA will continue to support the local operations through both capital injections and risk-sharing arrangements, as well as the timely execution of Mapfre Argentina Seguros' and Mapfre Argentina ART's recapitalization plans.

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