S&P changed rating of Triglav Re from A to A-
Credit rating agency Standard & Poor's (S&P) has downgraded the long-term credit rating of the Triglav Group, including Triglav Re, by one notch to 'A-'. The reason for the downgrade is the recent lowering of the long-term sovereign credit rating on the Republic of Slovenia and reflects the general public finance and economic situation in the country.
The downgrading of the sovereign credit rating on the Republic of Slovenia by one notch from 'A+' to 'A' issued by credit rating agency S&P on the 3rd of August this year entailed a negative impact on the credit rating of the Triglav Group. Thus, S&P downgraded the long-term credit and financial strength ratings of Triglav Re by one notch to 'A-' from 'A' and maintained negative outlook.