CORPORATE | 10.15.2020
Standard & Poor’s maintains MAPFRE’s ratings with a stable outlook
Keeps the company’s credit issuer rating at ʻA- ‘, and the financial strength rating at `A+’, one notch above the Kingdom of Spain
Standard & Poor’s announced today its decision to maintain MAPFRE’s ratings, as a result of “the strong diversification of the Group by countries and business lines, supporting its leading position in its main markets”.
The risk rating agency expects the Group to “comfortably maintain its capital position, backed by sound earnings and supporting Mapfre’s growth and dividend targets”.
Standard & Poor’s maintains a stable outlook for the new rating assigned to the Group, of which it positively values, among other aspects, “its ability to expand–both organically and through acquisitions–without losing its focus on underwriting discipline and customer service”. The Group’s capital levels, for its part, are considered “exceptional, given the high percentage of readily realizable assets and strong operating cash flows”.