QBE faces downgrade

Standard & Poor's has warned the QBE Group it might cut the insurer's credit rating if there is further worsening of the company's financial performance. The rating agency downgraded its outlook for QBE to "negative" on Thursday night after the company this week revealed its US business would drag it to a $US250 million ($274 million) loss this financial year.

Standard & Poor's has warned the QBE Group it might cut the insurer's credit rating if there is further worsening of the company's financial performance. The rating agency downgraded its outlook for QBE to "negative" on Thursday night after the company this week revealed its US business would drag it to a $US250 million ($274 million) loss this financial year.

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