Moody’s upgrades Stein Insurance's outlook
Moody’s Investors Service has revised the rating outlook of Stein Insurance Company, the core captive insurance subsidiary BHP Billiton, from negative to stable.
According to Moody’s, the revised outlook was driven by the recent change in rating outlook of BHP Billiton, a mining group, from negative to stable, on 25 November.
Moody’s also affirmed Stein’s A3 insurance financial strength rating.
The ratings reflect Stein’s “low risk balance sheet, underlined by the credit quality of its assets, lack of financial leverage and high levels of capital”, Moody’s said.