October 31, 2017 / 5:17 PM / a year ago

CORRECTED-BRIEF-S&P raises ratings of Italy's Cattolica and Allianz's Italian unit

(Corrects OCT. 31 story to show S&P raised ratings on Cattolica from BBB- to BBB and Allianz Italian unit to A from A-, not the other way round)

Oct 31 (Reuters) - Credit rating agency Standard & Poor’s says:

* Raised long-term ratings of Italy’s Cattolica Assicurazione to ‘BBB’ from ‘BBB-‘ following Italy’s sovereign upgrade

* Raised long-term ratings of Italian unit of German insurer Allianz from ‘A-‘ to ‘A’

* Revising up to ‘intermediate’ from ‘moderate’ its assessment of industry and country risk for the Italian life and property/casualty sectors Further company coverage: (Reporting by Milan newsroom)

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