Groupama clings on to investment grade status as Aviva is monitored

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The ratings agency said it believed the France-based insurer's capital adequacy and regulatory solvency were at weak levels amid continuing highly adverse capital markets and in spite of the company's announced key strategic actions.

S&P acknowledged that the new management were taking steps to address the issues, such as the recent sale of its stake in real estate company Silic and €300m (£251.9m) investment from Caisse des Dépôts et Consignations.

However it also confirmed it was maintaining a

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