Mapfre IDR downgraded following sovereign

Fitch Ratings has downgraded the issuer default rating for Spanish insurer Mapfre SA and its core subsidiaries from ‘A-‘ to ‘A’.

The firm's insurer financial strength rating was also subject to a one notch drop, to 'A' from 'A+'.

The ratings have simultaneously been removed from rating watch negative where they were placed on

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