AM Best affirms Converium rating
AM Best has affirmed the financial strength rating of B++ (Very Good) and upgraded the issuer credit rating (ICR) to "bbb+" from "bbb" of Converium. The under review status has been removed, and the outlook is stable for all ratings affected.
This rating action follows shareholders' approval of Converium's fully underwritten CHF 533m ($420m) rights issue and reflects AM Best's evaluation of the company's latest business plan, whichOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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