Fitch Affirms Mapfre at IFS 'A-'; Outlook Stable

(The following statement was released by the rating agency)

LONDON, April 26 (Fitch) Fitch Ratings has affirmed Spanish

insurer Mapfre SA's

(Mapfre) core operating subsidiaries' Insurer Financial Strength

(IFS) Ratings

at 'A-' and Mapfre SA's Issuer Default Rating (IDR) at 'BBB+'.

The Outlooks on

the ratings are Stable. A full list of rating actions is

available at the end of

this commentary.

KEY RATING DRIVERS

The affirmation of the ratings reflects Mapfre's sustained

robust operating

perf

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