Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Aegon NV > News item |
S&P puts Aegon on watch
Standard & Poor's said it placed the A+ long-term counterparty credit rating on Aegon NV on CreditWatch with negative implications.
"This action follows the announcement by Aegon that it expects to report a net loss of €1.2 billion for the fourth quarter of 2008," S&P analyst Mark Button said in a statement. "The loss reported by Aegon was higher than our expectations owing to material losses on fair-value items and elevated credit impairments."
The watch considers higher-than-expected losses for 2008 and a weaker economic and credit outlook for 2009 that will pressure earnings, the agency said. Continued weakness in equity markets has also increased the level of equity sensitivity in Aegon's earnings profile.
The €3 billion capital injection from the Dutch state in the fourth quarter of 2008 has supported the company's very strong capital adequacy, S&P noted.
© 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.