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S&P revises outlook on Kazakhstan's Eurasia Insurance

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S&P revises outlook on Kazakhstan's Eurasia Insurance

S&P Global Ratings on Oct. 4 revised its outlook on Kazakhstan-based Eurasia Insurance Co. JSC to positive from stable and affirmed its BB+ long-term counterparty credit and financial strength ratings and its "kzAA-" Kazakhstan national scale rating.

The rating agency said the positive outlook reflects its opinion that Eurasia Insurance will maintain its strong competitive position in Kazakhstan's insurance and reinsurance markets, and that it indicates the potential for an upgrade if the company maintains very strong capital metrics and sound operating performance in the next 12 to 18 months.

S&P noted that the revision follows its review of Eurasia Insurance after it revised the outlook on the sovereign to stable from negative, adding that it now has a more favorable view of the company's investment quality and liquidity.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.