Fitch revises Vivat to negative

Fitch Ratings said it revised the outlooks on Vivat NV's issuer default rating and Srlev NV's and Reaal Schadeverzekeringen NV's (together, Vivat Insurance) insurer financial strength ratings to negative from stable.

The agency simultaneously affirmed Vivat’s issuer default rating at BBB and senior notes at BBB-, and Vivat Insurance's insurer financial strength ratings at BBB+.

Fitch said the negative outlook follows its assessment that the credit profile of Vivat’s parent, Anbang Insurance Group Co. Ltd., has weakened, and that further widening in the relative credit strength would be credit-negative for Vivat, as a result of uncertainties that could arise regarding Vivat’s future strategic direction.

However, the affirmation reflects the agency’s view that the credit profile of Vivat as a standalone Dutch insurer is not directly affected by the credit profile of Anbang, Fitch added.

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