Moody's affirms Swiss Re

Moody's Investors Service said it affirmed Swiss Reinsurance Co.'s senior debt rating of Aa2 and subordinated debt rating of A1, and revised the outlook to negative from stable.

Short-term ratings of Prime-1 were also affirmed.

The affirmations follow the third-quarter earnings, the agency said, and reflect excellent business profile, strong business and geographic diversification and capitalization.

According to Moody's, the negative outlook reflects concerns in the near-to-medium term including the potential for available capital to continue to erode, lower profitability and declining fixed charge coverage.

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