S&P's removes Generali from negative creditwatch, affirms A- rating

MILAN, March 25 Tue Mar 25, 2014 1:27pm EDT

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MILAN, March 25 (Reuters) - International rating agency Standard & Poor's has removed Generali from its Credit Watch list after ascertaining that Italy's biggest insurer would not exhaust its regulatory capital even if its home country were to default on its debt.

In a statement, the rating agency said it affirmed Generali's rating at A-, two notches above Italy's sovereign rating, with a negative outlook.

Back in November, Generali had reacted angrily at Standard & Poor's decision to threaten a downgrade by putting it on Credit Watch, wa move hich Generali's CEO Mario Greco had called "a gross mistake". (Reporting by Lisa Jucca, editing by Silvia Aloisi)

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