Moody’s downgrades XL Capital outlook
Moody's Investors Service has affirmed the A2 senior debt rating of XL Capital and the insurance financial strength ratings of the insurance operating subsidiaries of XL. At the same time, Moody's changed the outlook on all of the debt and insurance financial strength ratings ("IFSR") to negative from stable except for the ratings of the financial guarantee operations. The outlook for the Aaa IFSR of XL Capital Assurance, XL Capital Assurance (UK) and XL Financial Assurance remains stable.
The outlook for XL's ratings was changed to negative primarily because of Moody's view that XL may continue to exhibit relatively modest coverage of interest and preferred stock dividends and commonOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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