The IDR upgrade follows our assessment of CA's strengthened ability and propensity to support CAA and CAR (together CAMCA), leading to an alignment of the three companies' IDRs.
CAMCA's IFS Ratings are therefore aligned with CA's IDR.
It assesses the credit profile of CAMCA as strong, further supporting their core captive status within CA.
The ratings continue to reflect our view that CAMCA are core captive companies of CA, and that CA's regional banks will continue providing support to their core captive insurance subsidiaries, if needed.
CAA's capitalisation was strengthened in December 2017 through a EUR75 million capital injection from its shareholders (CA, CAR and CAMCA Mutuelle).
CAMCA (Central Asia-Mongolia-Caucasus-Afghanistan) Regional Forum is a non-political and non-partisan Forum established to promote region-wide discussions on means of advancing economic growth and social development in Greater Central Asia (Afghanistan, Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan, Turkmenistan and Uzbekistan).
BOXREC Glyn Leach, editor of Boxing Monthly: Gavin Rees v John Murray, Tyson Fury v Dereck Chisora II, Carl Froch v Mikkel Kessler II, Tony Bellew v Enzo Maccarinelli
Camcas: Kell Brook v Amir Khan, Manny Pacquiao v Floyd Mayweather.