Scor, the embattled French reinsurance company, has attacked Fitch after the rating agency slashed its long-term and financial strength ratings to junk status less than two weeks before it is due to raise €600m ($715m) of fresh capital.

Fitch downgraded Scor's long-term rating to BB from BBB-, while the insurance company's financial strength rating fell from BBB to BB . The rating agency maintained its negative watch on the new ratings, indicating that further downgrades are possible.