Credendo – Guarantees & Speciality Risks’ rating upgraded from A- to A

On 7 July 2026, S&P Global Ratings upgraded Credendo – Guarantees & Speciality Risks’ long-term financial strength rating from ‘A-’ to ‘A’, with a stable outlook.

The upgrade reflects S&P Global Ratings’ view that Credendo – Guarantees & Speciality Risks is a core subsidiary of the Credendo insurance group. This assessment is based on the subsidiary’s improved net results since 2023 and its positive contribution to the group’s results.

According to S&P Global Ratings, the stable outlook is underpinned by the expectation that Credendo – Guarantees & Speciality Risks’ profitability will remain in line with the group and that it will continue to benefit from sustained support from its parent company over the next two years.

The rating upgrade confirms the complementary role of Credendo – Guarantees & Speciality Risks within the group and its contribution to Credendo’s commercial diversification through specialised guarantees and speciality risk solutions.