21Aug08

Press release

Group

Fitch upgrades SCOR to “A”

Fitch Ratings has upgraded SCOR SE’s ratings to “A” on Insurer Financial Strength (IFS) and to “A” on its Long Term Issuer Default Rating (IDRs). The rating on the Junior Subordinated Debt moves to “BBB+”. The outlook for the IFS rating and the Long-term IDRs remains stable. Previously, the ratings were “A-“, “A-“ and “BBB” respectively.

Fitch Ratings has upgraded SCOR SE’s ratings to “A” on Insurer Financial Strength (IFS) and to “A” on its Long Term Issuer Default Rating (IDRs). The rating on the Junior Subordinated Debt moves to “BBB+”. The outlook for the IFS rating and the Long-term IDRs remains stable. Previously, the ratings were “A-“, “A-“ and “BBB” respectively. 
 
SCOR welcomes the decision by Fitch to upgrade the Group taking into account “SCOR’s strong business and risk diversification, solid business position and recovering profitability”.
 
The upgrade further reflects Fitch's view of the Group's strengthened capital position after the acquisition of Converium and the successful integration of the two companies.
 
The release by Fitch can be accessed via their homepage: http://www.fitchratings.com

Contact

Marie-Laurence Bouchon

Group Head of Communications

+33 (0)1 58 44 75 43

mbouchon@scor.com

 

Ian Kelly

Head of Investor Relations

+44 203 207 8561

ikelly@scor.com