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Article: Fitch Revises Pacifico Peruano Suiza's Outlook to Stable; Affirms Ratings.
- Article from:
- Business Wire
- Article date:
- October 15, 2009
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NEW YORK -- Fitch Ratings has affirmed the 'BBB-' international scale local currency Insurer Financial Strength (IFS) rating of the Peruvian-based Pacifico Peruano Suiza (PPS) and revised the Outlook to Stable from Negative.
This rating action weights the improvement on PPS' operating performance sustained by a significant reduction of its claim ratio and controlled operating expenses; while its leverage ratios are decreasing towards its historic average. Going forward, future changes on PPS' ratings will depend on the ability of the company to further enhance its capitalization ratios based on a stable and positive operating result. On the other hand, a back ...