Alþjóðlega matsfyrirtækið Standard & Poor's hefur lækkað einkunn Tryggingamiðstöðvarinnar hf. og dótturfélags þess, Nemi Forsikring ASA í Noregi, úr BBB í BBB- en félögin hafa verið á athugunarlista síðan 9. júní sl. Horfur fyrirtækjanna eru metnar stöðugar. Megin ástæða þess að matsfyrirtækið grípur til þessarar ráðstöfunar er skuldastaða FL Group móðurfélags Tryggingarmiðstöðvarinnar. Í tilkynningu Standard & Poor's kemur fram að eftir viðræður við stjórnendur FL Group álykti matsfyrirtækið að enn sé til staðar sú áhætta að eigið fé TM rýrni þrátt fyrir opinberar reglur, stjórnunarhætti og aðrar ráðstafanir sem koma eiga í veg fyrir slíkt. Það er hins vegar álit S&P að hæfni TM og Nemi til að standa við viðskiptalegar skuldbindingar sínar sé óbreytt. Stjórn TM lýsir yfir vonbrigðum sínum með þessa niðurstöðu og bendir á að fjárhagsleg staða TM og Nemi sé mjög sterk og félögin hafi sömu burði og áður til þess að þjóna viðskiptavinum sínum til framtíðar. Nánari upplýsingar gefur Óskar B. Hauksson, framkvæmdastjóri fjármála- og rekstrarsviðs TM í síma 515 2000. Tilkynning Standard & Poor's: Insurers Tryggingamidstödin hf. And Subsidiary NEMI Forsikring ASA Downgraded To 'BBB-' Primary Credit Analyst: Peter McClean, London, (44) 20-7176-7075; peter_mcclean@standardandpoors.com Secondary Credit Analyst: Rowena Potter, London, (44) 20-7176-7070; rowena_potter@standardandpoors.com Additional Contact: Insurance Ratings Europe; InsuranceInteractive_Europe@standardandpoors. com Rationale On June 26, 2008, Standard & Poor's Ratings Services lowered to 'BBB-' from 'BBB' its long-term counterparty credit and insurer financial strength ratings on Iceland-based insurer Tryggingamidstödin hf. (TM) and its subsidiary, Norway-based non-life insurer NEMI Forsikring ASA. At the same time, the ratings were removed from CreditWatch, where they were placed with negative implications on June 6, 2008. The outlook on both entities is stable. The rating actions reflect our concerns over the levels of debt leverage in the parent company, Iceland-based investment holding company FL Group (not rated). These concerns relate particularly to the potential threat to the capitalization of TM and NEMI derived from the uncertainty regarding FL's ability to service its debt obligations. In our view, this diminishes TM's and NEMI's financial flexibility. Following discussions with FL Group's management, Standard & Poor's has received further clarification regarding FL's intentions toward its investment in TM and NEMI, and regarding FL's ability to draw upon the capital resources of those entities. As a result of these discussions, we have concluded that there is sufficient potential threat to capitalization to justify a downgrade. However, we also believe that there are regulatory, governance, and other mechanisms in place that will limit the extent to which FL is able to access TM's capital, and that consequently the downgrade should be limited to one notch. Standard & Poor's view of the stand-alone credit quality of both TM and NEMI remains unchanged. Outlook The stable outlook reflects Standard & Poor's expectation that capitalization will be maintained at a level that supports the ratings on both TM and NEMI to offset our continuing concerns regarding FL Group's debt leverage. In this respect, we will continue to monitor the parent's actions to reduce leverage, as well as its dividend flows from TM and NEMI. An upgrade is regarded as unlikely in the medium term, based on information currently available. Conversely, any significant unexpected deterioration in the TM group's capitalization may lead to a downgrade. Ratings List Downgraded; CreditWatch/Outlook Action To From Tryggingamidstodin hf. NEMI Forsikring ASA Counterparty Credit Rating Local Currency BBB-/Stable/-- BBB/Watch Neg/-- Financial Strength Rating Local Currency BBB-/Stable/-- BBB/Watch Neg/--