Groupama hit with S&P downgrade to BBB-
Groupama has suffered a ratings downgrade at the hands of Standard & Poor's despite the France-based insurer announcing a range of key strategic actions designed to halt the recent slide.
The ratings services firm has lowered its long-term counterparty credit and financial strength ratings on Groupama and its guaranteed subsidiaries to 'BBB-' from 'BBB'.
At the same time, Standard &
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