Standard & Poor's Ratings Services has lowered its financial strength rating on Channel Reinsurance Ltd. to 'AA' from 'AAA', removed the rating from CreditWatch with negative implication
OLDWICK, N.J.----A.M. Best Co. has affirmed the financial strength rating of A- and the issuer credit rating of "a-" of Casiopea Re S.A. , the reinsurance captive of Telefonica S.A. .