Fitch gloomy on outlook for South Korean guarantee insurer SGIC
South Korean guarantee insurer Guarantee Insurance Company's (SGIC) has had the outlook on its insurer financial strength rating (IFS) revised to 'negative' from 'stable' and had its rating simultaneously affirmed at 'A'.
"The negative outlook reflects the deteriorating credit and business conditions in the Korean financial sector as the economy slows," Fitch said, "The slowdown is expected to have a major impact on
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