CNP ASSURANCES : CNP : Confident It Can Reinforce Capital Despite S&P Downgrade
01/27/2012 | 02:35pm CNP Assurances (CNP.FR) said Friday it was confident in the group's ability to reinforce its capital, after ratings agency Standard & Poor's downgraded the French insurer's long term rating to A+ citing increased credit risk in the euro zone.
"CNP pursues its policy to reduce equity investments and its exposure to the sovereign debt of Europe's peripheral economies," said CNP in a statement.
"The fundamental pillars of its value creation model remain healthy as its latest financial results demonstrate," it added.
CNP Assurances's shares closed down 4.2% at EUR10.52.
-By Noemie Bisserbe, Dow Jones Newswires; +33 1 4017 1740; noemie.bisserbe@dowjones.com
