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Bulletin: AEGON N.V. Ratings Unaffected By Announcement Of Transamerica Re Sale
Standard & Poors, April 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
LONDON (Standard & Poor's) April 27, 2011--Standard & Poor's Ratings Services said today that its ratings and outlook on Netherlands-based insurance holding company AEGON N.V. (AEGON; A-/Negative/A-2) and its core insurance operating subsidiaries (AA-/Negative/--)--with the exception of Transamerica International Reinsurance Ireland Ltd. (AA-/Watch Neg/A-1+)--are unaffected by AEGON's announcement on April 26, 2011, that it has entered into an agreement with SCOR SE to sell its Transamerica Reinsurance (Transamerica Re) business. The sale of Transamerica Re to SCOR for a cash consideration of $912.5 million will primarily take the form of a series of reinsurance transactions. AEGON expects to upstream $1.1 billion of capital released from this sale to support its intention to repay by June 30, 2011, the remaining -750...
Companies mentioned in this report are: AEGON N.V.
Action: Bulletin
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