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S&P Raises African Reinsurance Corp. Rtgs to ''BBB+''.

Publication: Business Wire
Publication Date: 21-AUG-02
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Business Editors

LONDON--(BUSINESS WIRE)--Standard & Poor's

Aug. 21, 2002--Following a review, Standard & Poor's Ratings Services said today it raised its long-term counterparty credit and insurer financial strength ratings on Nigeria-based reinsurer African Reinsurance Corp. (Africa Re) to triple-'B'-plus from triple-'B'.

The outlook is stable.

"The upgrade is based on Africa Re's stable management, established niche position in African reinsurance, track record of satisfactory technical performance and earnings, strong capitalization, and prudent...

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