Research Update: France-Based CNP Assurances Downgraded To 'A+' On Weakening Capacity To Restore Capital Adequacy; Outlook Negative Jan 12
- Language: English
- Published: January 2012
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Research type: News
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France-based CNP Assurances plans to issue fixed-to-floating-rate unsecured subordinated callable notes due in September 2041. We are assigning an 'A' issue rating to the proposed notes. We expect to classify the notes as having "intermediate equity content" according to our hybrid capital criteria. PARIS (Standard & Poor's) March 31, 2011--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 2041 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. The rating is two notches below our counterparty credit rating on CNP, reflecting our standard...
Companies mentioned in this report are: CNP Assurances
Action: New Rating