Casiopea Re has has its 'A' grade status affirmed by ratings agency Standard & Poor's.
Casiopea Re has had its 'A' grade status affirmed by ratings agency Standard & Poor's.
The outlook for the Luxembourg-based reinsurance affiliate of Spanish telecommunications operator Telefónica S.A. is stable.
Standard & Poor's credit analyst Emilie Cohen-Boulakia said: "The ratings on Casiopea Re are significantly influenced by the corporate credit ratings on the parent, Telefónica.
"This is due to Casiopea Re's function as an integral part of the Telefónica group's overall risk management strategy."
