JCR Eurasia Rating has assigned a credit rating of ‘AA (Trk)’ on the Long Term National Scale along with a ‘Stable outlook to Acıbadem Sağlık ve Hayat Sigorta A.Ş. According to the results, Acıbadem Sigorta became the first insurance company that has a credit rating of AA (Trk). The international credit rating institution, JCR Eurasia Rating, has assigned a credit rating of ‘AA (Trk)’ on the Long Term National Scale along with a “Stable” outlook to Acıbadem Sağlık ve Hayat Sigorta A.Ş. which denotes a high investment grade. Moreover, JCR Eurasia Rating has assessed the Long Term International Foreign and Local Currency ratings as ‘BBB’, above the country ceiling. Other notes and details of the ratings are given in the table below:
JCR Eurasia Rating stated that, “The establishment of an integrated corporate sales policy, an extensive network of premium corporate customers, flexible system platforms, a considerably high rate of renewal of insurance agreements with corporate customers, participation of all departments and efficient performance follow-ups on a fair hierarchical structure in the budget making process, tailor made insurance products and the wide utilization of in house developed technology services are the grounds for the assignment of a ‘Stable’ outlook to Acıbadem Sigorta.
JCR Eurasia Rating is of the opinion that the company’s shareholders have the financial strength to provide the company with liquidity and equity as well as operational support should the need arise. In this regard, the company’s sponsor support grade has been determined as 2 based on the JCR Eurasia Rating’s notation system. Taking the shareholder structure of Acıbadem Sigorta into consideration, Long Term and Short Term Foreign Currency ratings have been assigned at the above country ceiling levels of (BBB, Stable Outlook) and (A-3, Stable Outlook), respectively.
On the other hand, taking into consideration the Company’s asset quality and size, the level of equity, growth rates, efficiency in the market, organizational structure, on-going high cash flow potential and corporate governance practices, we, as JCR Eurasia Rating, have reached the opinion that Acıbadem Sağlık ve Hayat Sigorta A.Ş. has acquired the sufficient knowledge and background to meet and manage its outstanding liabilities. Within this context, the Stand Alone grade of the Company has been determined as (AB) in JCR Eurasia Rating’s notation system.”
