RIO DE JANEIRO--(BUSINESS WIRE)--Sul America S.A.'s (SASA; Long-term local currency Issuer Default Rating (IDR) 'BBB-'/Stable Outlook) recently announced agreement to sell its subsidiary Sul America Companhia de Seguros Gerais (SASG) and its large-risks Property & Casualty (P&C) portfolio to AXA Corporate Solutions Brasil e America Latina Resseguros S.A. (AXA CS Brasil, National Insurer Financial Strength (IFS) rating, 'AAA(bra)'/Stable Outlook) is neutral for both companies' ratings, a
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