S&P lowers ratings for Mapfre and core subsidiaries
Spanish insurer Mapfre has had its insurer financial strength and long-term counterparty credit rating downgraded to 'AA-' from 'AA' by Standard and Poor’s following its sovereign downgrade of Spain last week.
The ratings agency lowered the long-term and short-term ratings on the Kingdom of Spain to ‘AA-‘ with a negative outlook.
The affected entities are Mapfre Global Risks, Compania Internacional de
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