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French Insurer CNP Assurances' Proposed Unsecured Subordinated Callable Notes Rated 'A'
Standard & Poors, September 2010
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.
France-based CNP Assurances plans to issue fixed-to-floating-rate unsecured subordinated callable notes due in September 2040. We are assigning an 'A' issue rating to the proposed notes. We expect to classify the proposed notes as having "intermediate equity content" according to our hybrid capital criteria. PARIS (Standard & Poor's) Sept. 8, 2010--Standard & Poor's Ratings Services said today that it has assigned its 'A' long-term issue rating to the proposed unsecured subordinated callable notes due in September 2040 to be issued by French insurer CNP Assurances (AA-/Stable/--). The rating on the notes is subject to confirmation, following our receipt and review of the final terms and conditions of the issue. The rating is two notches below our counterparty credit rating on...
Companies mentioned in this report are: CNP Assurances
Action: New Rating