Phoenix News: Fitch Class Phoenix Life Insurance
Find Hot chick in your area
The subsidiaries of Life Phoenix Companies, Inc. estimates obtained for the rating agency Fitch Ratings credit lower Monday.
The financial strength rating of the insurer, not slipped in the level of investment is reduced to BB + to BBB.
The rating outlook remains “negative.”
According to analysts at Fitch Ratings reflect the widespread concerns about the strategic direction of companies and their impact on the profile of long-term credit.
Analysts estimate that Phoenix has a limited flexibility to increase the authorized capital, and it has a negative trend of credit, which could continue to exert pressure on the experienced captain.
Negative forecasts are based primarily on concerns about the low operating profit, due to very limited financial flexibility, and in anticipation of a further deterioration of the situation of the capital risks on short-term credit.
Fitch analysts said that the premiums are one of the most powerful tools for the management company capital. While most companies with a significant reduction in their scope in 2010 participants dividend policy to reflect the difficult economic conditions that Phoenix has pledged to maintain the level of dividends.
The amount of the year 2010 300 million dollars paid.
Shares of Phoenix 3 cents to $ 3.24 per Trade Day.