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Article: GCR places Oxygen's rating under watch.
- Article from:
- ADP News Middle East & Africa
- Article date:
- August 28, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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(ADPnews) - Aug 28, 2009 - South African Global Credit Rating Co (GCR) said in its news issue for July 2009 it confirmed and placed on watch the domestic currency claims paying ability rating of A of local Oxygen Medical Scheme.
The rating took consideration of the large operating and net deficits posted over the last two years. Cognisance was, however, taken of the planned corrective measures to be implemented by management in order to curtail further losses in the medium to longer term. Furthermore the scheme's solvency measures remain low. This, together with the scheme's growth strategy going forward, may place further pressure on the scheme's efforts in ...
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