Ratings Recap: Coface, Tenet

June 19, 2007

Fitch Ratings has affirmed the insurer financial strength of the major insurance entities of the Coface group at “AA+”, citing their strategic importance within the French financial group Natixis and strong standalone financial strength. Fitch also affirmed Coface SA’s issuer default rating at ‘AA’, and said the outlooks on all ratings remain stable.

A.M. Best Co. has affirmed the financial strength rating (FSR) of “A-” (Excellent) and the issuer credit rating (ICR) of “a-” of the Singapore-based Tenet Insurance Company with a stable outlook. “The ratings reflect Tenet’s strong capitalization level, conservative and liquid investment, and stable investment income,” said Best.

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