R&SA's US operations ratings reduced
Standard & Poor's ratings services today lowered its counterparty credit and insurer financial strength ratings on Royal & Sun Alliance Insurance Group US insurance operations to BB from BB+. The outlook remains negative. At the same time, the ratings were withdrawn at the request of the companies' management.
"The downgrade reflects the reduced appetite of RSA USA's parent to provide the US operations with additional capital should the need arise," said S&P's credit analyst Tom Thun.RSA USA effectively
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