S&P lifts MetLife Seguros view to stable

S&P said it revised the outlook on the BBB+ global scale issuer credit and financial strength ratings on MetLife Seguros SA to stable from negative following a similar rating action on the sovereign rating of Uruguay.

The agency also said it affirmed these ratings.

S&P also said it affirmed the uyAAA national scale rating on the company and stable outlook because it doesn't believe a potential one-notch change on global scale rating on the company would impact the national scale rating.

The BBB+ rating on MetLife Seguros reflects its BBB+ stand-alone credit profile, the agency said.

The ratings on MetLife Seguros are one notch higher than the ratings on Uruguay, reflecting an expectation that the company wouldn't default in the event of a sovereign default.

This is based on a view that the company's liquidity position and capitalization metrics are positive and meet regulatory minimums under the stress test scenario, S&P said.

The stable outlook reflects a view that better economic prospects will mitigate the risks of adverse shocks and an expectation that the government will implement timely corrective policies to stay on the path of fiscal consolidation, the agency said.

© 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.