S&P Global Market Intelligence compiles ratings actions in the insurance space daily through 5 p.m. ET. Actions after 5 p.m. ET will be included in the following day's roundup.
U.S. and Canada
S&P Global Ratings affirmed the BB- long-term issuer credit rating of Molina Healthcare Inc.
The outlook was modified to positive from stable based on a possible one-notch upgrade in 2020-2021, according to the rating agency. S&P Global Ratings said the company's credit profile is steadily improving because of the management's efforts to improve medical management, optimize risk adjustment and payment integrity, and restructure operating costs.
Middle East and Africa
Fitch Ratings affirmed the AA- insurer financial strength rating of African Guarantee Fund for Small and Medium-sized Enterprises Ltd. The outlook is stable.
The rating considers the financial guarantor's financially strong owners, very strong capital position and proven business model as the provider of local currency guarantees for small and medium-sized enterprises in Africa, according to the rating agency.
Moody's assigned an insurance financial strength rating of A2 to Construction Guarantee Cooperative. The outlook is stable.
The rating takes into account the cooperative's well-established franchise in its designated construction guarantee market in Korea, strong capitalization relative to its risk taken and low exposure to high-risk assets, which are counterbalanced by a high gross guarantee exposure to shareholders' equity, as well as exposure to the cyclical guarantee business in the construction industry, according to Moody's.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.
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