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Standard & Poor's Rating Services Revises Long-term Credit Rating if Triglav Group Including Zavarovalnica Triglav dd from A- to BBB+ with Positive Outlook


Friday, 15 Feb 2013 06:53am EST 

Zavarovalnica Triglav dd announced that Standard & Poor's Rating Services lowered the credit rating of the Triglav Group, which also applies to Zavarovalnica Triglav dd and Pozavarovalnica Triglav Re dd, by one notch from A- to BBB+, removed the rating from CreditWatch negative list and assigned it a positive outlook. This downgrade is caused by the lowering of the long-term sovereign credit on the Republic of Slovenia by one notch to A- from A, which Standard & Poor's Rating Services carried out on February 12, 2013. According to 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 were it should be needed. At the same time, S&P assigned the standalone Triglav Group BBB+ rating a positive outlook. 

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