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Fitch Affirms Mercury General's Ratings - Quick Facts

Fitch Ratings said that it has affirmed the 'A' Issuer Default Rating or IDR on Mercury General Corp. (MCY) and the 'A+' Insurer Financial Strength or IFS ratings on MCY's subsidiaries.

Additionally, Fitch has affirmed the 'A' IDR on MCY's subsidiary, Mercury Casualty Co., and 'A' rating on Mercury Casualty's secured senior bank debt. The Rating Outlook is Stable.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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Shares of AstraZeneca Plc were declining in the morning trading in London after the British drug giant reported Thursday weak profit and revenues in its first quarter, as product sales were hurt mainly by the residual impact of the US Crestor patent expiry. Core profit, however, increased with improved cost control. Further, the company confirmed its financial guidance for 2017. German banking giant Deutsche Bank AG reported Thursday significantly higher profit in its first quarter, mainly reflecting lower expenses and provision for credit losses. Meanwhile, net revenues declined with lower net interest income and weak global markets revenues. Deutsche Bank shares were losing around 3 percent in the morning trading in Germany. Shares of Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) were gaining around 4 percent in the trading in South Korea after the company reported significant growth in its first-quarter profit with higher sales mainly in memory and display businesses. For the full year, the company expects overall earnings to grow from last year.
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