Royal & Sun Alliance Affirmed

The “AA-” long-term counterparty credit and insurer financial strength ratings on the core operating entities of the Royal & Sun Alliance Insurance Group PLC (RSA) was affirmed by S&P. Concurrently, the “A-1+” foreign currency and commercial paper ratings on the principal group operating company, Royal & Sun Alliance Insurance PLC, was affirmed, as was the “A” junior subordinated debt rating on RSA. The rating outlook is negative.