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Allianz Finance II B.V.'s Subordinated Bond Due 2022 Rated 'AA-'; Allianz Ratings Affirmed May 02
Standard & Poors, May 2002
Abstract
FRANKFURT (Standard & Poor's) May 21, 2002--Standard & Poor's said today it assigned its double-'A'-minus rating to the subordinated bond, maturing in 2022, issued by Netherlands-based Allianz Finance II B.V. The amount of the issue is yet to be confirmed. The rating is based on a guarantee by Munich-based Allianz AG (AZAG); AA+/Negative/A-1+) to the bondholders and on the standard notching applied by Standard & Poor's for hybrid capital. 'The notes constitute unsecured and subordinated obligations of the issuer and rank pari passu with all other present and future unsecured and subordinated obligations of the issuer and the guarantor,' said Wolfgang Rief, a director at Standard & Poor's Financial Services Ratings Group in Frankfurt. The proceeds of this issue will...
Companies mentioned in this report are: Allianz Finance II B.V.,Dresdner Bank AG,Allianz SE
Action: New Rating
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.
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