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Moody's Downgrades Generali Ratings

7/17/2012 6:30 PM ET

Moody's Investors Service announced that Assicurazioni Generali SpA's (ARZGY.PK) insurance financial strength rating or IFSR downgraded to Baa1 from A1 and senior debt to Baa2 from A2 with negative outlook; French subsidiaries' IFSRs downgraded to Baa1 from A1; German subsidiaries' IFSRs downgraded to A3 from A1.

Allianz S.p.A.'s IFSR has been downgraded to A3 from A1 with negative outlook. Moody's said Unipol Assicurazioni S.p.A's IFSR downgraded to Baa2 from A3 and remains on review for downgrade.

Moody's has revised the Generali rating, following the downgrade of Italy's sovereign rating.

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by RTT Staff Writer

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