Fondiaria-Sai S.p.A.: Fitch revises the P.I. rating to BB+ from BBB-, negative rating watch maintained
Thursday, March 24, 2011
Fitch Ratings today revised the P.I. rating of Fondiaria-SAI S.p.A. and its principal subsidiary Milano Assicurazioni S.p.A. from BBB- to BB+.
Fitch stated that the lowering of the rating reflects both the losses for the year 2010, greater than their expectations, and the uncertainties related to the turnaround of the Group, given the difficulties within the market.
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