Sterling retains BBB+ rating

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The ratings agency said the decision reflected the consolidated capital, business position and moderate investment risk of the group. Both companies are the underwriting members of Sterling Insurance Group.

It added that it viewed the main shareholder's strong support to date and the absence of dividend payments as positive and said that it considered it important that the group remained profitable to avoid capital erosion.

Fitch noted that it expected Sterling to report improved profitability

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