S&P downgrades RSA with Ireland issues expected to result in losses

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Provider's problems lead to ratings downgrade.

Standard & Poor’s (S&P) has lowered RSA’s financial strength and issuer credit ratings from A+ to A, attributable partly to losses related to issues in its Irish operations.

The provider’s core operating entities’ ratings have all been similarly downgraded.

The ratings have been placed on CreditWatch with negative implications, while S&P considers the effect of any management actions to improve the financial risk profile of the group.

This move will also enable the ratings agency to reassess RSA

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