Member access

4-Traders Homepage  >  Shares  >  LJUBLJANA STOCK EXCHANGE, INC.  >  Pozavarovalnica Sava dd    POSR   SI0021110513

SummaryNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Sava Re dd : Sava Re remains on S&P's negative watch list

03/18/2013 | 04:24am US/Eastern

Monday, 18/03/2013

Pursuant to the Rules of the Ljubljana Stock Exchange, d.d., Ljubljana and the Financial Instruments Market Act, Sava Reinsurance Company d.d., Ljubljana, Dunajska 56, 1000 Ljubljana hereby announces the following:

The rating agency Standard and Poor's (S&P) put Sava Re on its negative watch list (BBB+) in December 2012. This was due to the acquisition of 50.99 percent in Zavarovalnica Maribor (ZM). According to S&P, Sava Re could benefit significantly from this transaction, which, however, carries an execution risk.

After its regular periodic review, S&P decided to keep Sava Reon its negative watch list (CreditWatch with negative implications). In the next three months, it intends to resolve the CreditWatch placement of the reinsurance company. By then, it anticipates that Sava Re will have executed the capital increase, which will give S&P a clearer understanding of Sava Re's ability to acquire the remaining shares in ZM from Slovenska odškodninska družba (SOD). S&P could lower Sava Re's rating by one notch if the capital increase is only partially successful or unsuccessful or if ZM's integration weakens the company's consolidated capital adequacy.

This announcement will be available on the Company's website www.sava-re.si, at least five years from the date of the announcement.

distributed by
React to this article
Latest news on POZAVAROVALNICA SAVA DD
12/12 POZAVAROVALNICA SAVA DD : Change in Number of Shares With Voting Rights
12/12 POZAVAROVALNICA SAVA DD : Announcement on Change in Major Holdings
12/12 POZAVAROVALNICA SAVA DD : Purchase of Own Shares
11/28 POZAVAROVALNICA SAVA DD : Notice on Determination of Price and Purchase Quantity..
11/26 POZAVAROVALNICA SAVA DD : Response to Article Published in the Daily Delo on 21 ..
11/18 POZAVAROVALNICA SAVA DD : Share repurchase programme
11/18 POZAVAROVALNICA SAVA DD : Announcement of Financial Results for January-Septembe..
11/10 POZAVAROVALNICA SAVA DD : Amendment to the Financial Calendar 2014
11/03 POZAVAROVALNICA SAVA DD : Change in Number of Shares With Voting Rights
10/30 POZAVAROVALNICA SAVA DD : Announcement on registration of capital increase in su..
Advertisement
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF