04Dec08

Press release

Group

Moody’s upgrades SCOR to “A2”

Moody's Investors Service announced today that it had upgraded the insurance financial strength rating (IFSR) of SCOR and various subsidiaries to A2 from A3, and SCOR's subordinated debt to Baa1 from Baa2. All ratings have a stable outlook.

Moody's Investors Service announced today that it had upgraded the insurance financial strength rating (IFSR) of SCOR and various subsidiaries to A2 from A3, and SCOR's subordinated debt to Baa1 from Baa2. All ratings have a stable outlook.  
 
SCOR welcomes the decision by Moody’s to upgrade the Group taking into account “SCOR’s significant and good progress made with regard to the integration of both Revios and Converium, recent good profitability, maintenance of excellent asset quality, and the meaningful improvement in financial leverage”.
 
Moody’s decision follows the upgrade received this year from Fitch and the improvement of outlook from Standard & Poor’s, further demonstrating the strong progress made by the Group.
 
The release by Moody’s can be accessed via their homepage: http://www.moodys.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