Article: GCR places Oxygen's rating under watch.

(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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