The Fitch Ratings agency has decided to maintain MAPFRE’s financial strength credit rating at A+, with a stable outlook, following its assessment of the potential impact of the coronavirus pandemic on the company.
The risk ratings agency explains in its note that maintaining the rating is based on its view of MAPFRE as a “solidly capitalised” company; with financial indebtedness of 23% at the close of 2019.“MAPFRE has a solid liquidity position and also has access to a syndicated credit line of EUR1bn euros. We expect the group’s technical profitability to remain resilient,” it said.MAPFRE will release its first quarter results on May 5.

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