S&P rates Milli Reasurans trA+

Standard & Poor's said it assigned its trA+ Turkish national scale rating to Turkey-based Milli Reasurans T.A.S. (Milli Re), a subsidiary of Turkiye Is Bankasi AS (Isbank; BB-/stable/B, Turkish national scale ratings trA+/--/trA-1).

S&P has not published an international scale rating on Milli Re.

S&P said the rating reflects the company's marginal quality of investments (from a global perspective) and its concentration in the Turkish market, which exacerbates the potential impact of earthquake-exposure modeling risk. The rating on Milli Re is supported, however, by the reinsurer's dominant competitive position in Turkey and its adequate capitalization.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.