China Re's financial strength rating cut by S&P

S&P Global Ratings has cut its insurer financial strength
rating on China Re, mirroring a downgrade of China's credit
rating yesterday.
China Re's financial strength and credit ratings were
lowered today to A+ from A by S&P, a day after it cut the
country's credit rating to AA- from A+. The outlook for both is
stable, S&P said.
China Re can rely on the "high likelihood that the
insurance group will receive extraordinary support" from its
84 percent owner, the...