Fitch rates Aviva notes BBB

Fitch Ratings said it rated Aviva plc's planned issue of perpetual fixed-rate subordinated restricted tier 1 convertible notes BBB.

The notes are rated four notches below Aviva's issuer rating, comprising two notches each for poor recovery and for moderate non-performance risk, Fitch said.

The proceeds will be used for general corporate purposes.

The outlook is stable.

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