Moody’s reviews Allianz

Moody's Investors Service said it placed Allianz SpA on review for downgrade following the review for downgrade on the Italian government's Baa2 debt rating.

At the same time, the agency affirmed the Baa1 insurance financial strength rating of Assicurazioni Generali SpA and Generali Italia SpA, the outlook on which remains stable.

Moody's said it considers that the insurance companies' key credit fundamentals (asset quality, capitalization, profitability and financial flexibility) are partly correlated with – and thus linked to – the economic and market conditions in Italy, where they are domiciled and have significant operations.

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