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Bulletin: Rating Unaffected On Unipol Gruppo Finanziario's 5.66% Subordinated Notes Due 2023 Following Public Tender Offer
Standard & Poors, June 2009
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.
MILAN (Standard & Poor's) June 9, 2009--Standard & Poor's Ratings Services said today that its 'BBB' rating is unaffected on the -300 million 5.66% subordinated callable notes due 2023 issued on July 28, 2003, and held by Italy-based insurer Unipol Gruppo Finanziario SpA (Unipol), following the public tender offer for the entire amount of the bond. In addition, the issuer credit ratings are unaffected on Unipol (counterparty credit rating BBB/Stable/--) and its core operating entity UGF Assicurazioni SpA (UGF; insurer financial strength rating A-/Stable). Also unaffected is the 'BBB' rating on the -300 million subordinated callable notes due 2021 that Unipol holds. If holders of Unipol's 5.66% subordinated notes due 2023 accept the tender offer, they will receive an amount...
Companies mentioned in this report are: Unipol Gruppo Finanziario SpA,UGF Assicurazioni SpA
Unipol Gruppo Finanziario SpA,UGF Assicurazioni SpA