S&P revised the long-term credit rating of the Triglav Group from “A-”to “BBB+” with a positive outlook
Ljubljana, 14 February 2013 – The ratings agency Standard & Poor's (S&P) cut the credit rating of the Triglav Group (which also applies to Zavarovalnica Triglav and Pozavarovalnica Triglav Re) by one notch to “BBB+” from “A-”, removed the rating from the CreditWatch negative list and assigned it a positive outlook.
The downgrading of the credit rating was caused by the lowering of the long-term sovereign credit on the Republic of Slovenia by one notch to "A-" from "A", which S&P published on 12 February 2013. In accordance with its criteria, the agency believes that the Slovene government, as a majority shareholder of the Triglav Group, is less able to provide extraordinary support to the Group should it be needed. At the same time, S&P assigned the standalone Triglav Group BBB+ rating a positive outlook.