Mapfre difficulties compounded by S&P downgrade
Shares in the Spanish (re)insurer Mapfre are expected to open down sharply on 16 October, after S&P downgraded the firm below the crucial A- territory.
The rating agency stripped Mapfre of its insurer financial strength A- rating, downgrading to BBB+ with a negative outlook on the 15 October, because of its downgrade last week of the sovereign Spanish rating.
Mapfre share price
The latest downgrade will be another major headache
for the (re)insurer as a move below A- territory typically...
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