|
|
Article: A.M. Best Assigns Debt Rating to Assicurazioni Generali S.p.A.'s Senior Unsecured Notes.
- Article from:
- Business Wire
- Article date:
- September 11, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
OLDWICK, N.J. -- A.M. Best Co. has assigned a debt rating of "a+" to the EURO 1,750 million 5.125% senior unsecured notes due to mature on 16 September 2024 issued by Assicurazioni Generali S.p.A. (Generali) (Italy). The notes were issued under Generali's Euro medium-term notes program, and the assigned outlook is stable.
These notes are intended to refinance the senior debt maturing on 20 July 2010, which amounts to EURO 1,750 million on a 6.15% coupon.
The resulting higher financial leverage is expected to be reduced and in line with the current rating after July 2010, following the repayment of the maturing senior debt.
A.M. Best also ...