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RSA maintains S&P downgrade will have "no material impact"

Richard Houghton
    • Andrew Pearce

    • Indicative reading time: 1 minute

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Rating agency today hit the insurer with a downgrade to A- from A.

RSA has insisted that today's credit rating downgrade will have "no material impact" on its operations.

The insurer has been downgraded by Standard & Poor's (S&P) to A- from A amid a succession of profit warnings, the resignation of group chief executive Simon Lee and the discovery of concerns in its Irish claims and finance functions.

Yet in response to S&P's decision chief financial officer Richard Houghton asserted: "We believe that today's decision will have no material impact on the group's

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