Standard & Poor's have upgraded RSA's rating to 'A' with a stable outlook.
Richard Houghton, RSA's Group Chief Financial Officer, responded to Standard & Poor's decision to upgrade its rating for Royal Sun Alliance Insurance PLC (RSA):
"This is recognition that the combination of the actions that we have already undertaken together with the Rights Issue, will result in a 'material improvement' in our balance sheet strength and provides the capacity to execute our strategic plans. The stable outlook also reflects S&P's confidence that RSA will re-emerge in a much stronger financial position with a clear commitment to maintaining a strong capital base with a clear strategic focus on core markets."