S&P downgrades Groupama IFS rating
The insurer financial strength rating of Groupama has been downgraded from ‘A-‘ to ‘BBB+’ by Standard & Poor’s because of its “material exposure to Greek government bonds”.
The outlook for the France-based composite insurer is negative.
According to S&P, the downgrade reflects the rating agency's view that the rating action on the Greek sovereign will weaken Groupama's
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