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S&P revises PartnerRe view to stable
S&P said it revised the outlook for PartnerRe Ltd. to stable from positive after the pact for the company acquired by Covea was terminated.
“The outlook revision reflects the fact that the upside to the ratings, which could have benefited from stronger support as part of a higher-rated entity, Covea group (AA-/stable) with a strong balance sheet, no longer exists subsequent to the termination of the deal,” said S&P in a press release.
The agency affirmed PartnerRe’s A- issuer rating.
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