Fitch ups AIA subordinated perpetuals to A

Fitch Ratings said it affirmed the insurer financial strength ratings of AIA Co. Ltd. (AIA Co.), AIA International Ltd. and AIA New Zealand Ltd. at AA (Very Strong) and the long-term issuer default rating of AIA Group Ltd. at AA-.

The outlook is stable.

At the same time, Fitch said it affirmed the A+ long-term rating on AIA's global medium-term note and securities program.

Fitch also upgraded the rating of AIA's $750 million subordinated perpetual securities to A from A-.

The upgrade of the rating on AIA's $750 million subordinated perpetual securities follows the implementation of the group-wide supervision framework by the Hong Kong Insurance Authority, which resulted in AIA being designated an insurance group under the framework.

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