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PARISMoody's Investors Service has upgraded SCOR S.A.'s financial strength rating to A3 from Baa1, with a stable outlook.
Moody's said the rating action reflects the continued enhancement of Paris-based SCOR's financial profile, including improvements in return on equity, financial leverage and the profitability of the group's life operation, together with the proposed acquisition of German life reinsurer Revios Rückversicherung A.G.
SCOR announced in July that it would buy Revios, retroactive to Jan. 1, for e605 million ($773.1 million).