| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers C > Headlines for CNP Assurances > News item |
Moody’s ups CNP tier 1 notes to Baa2
Moody's Investors Service said it upgraded CNP Assurances' restricted tier 1 notes' ratings to Baa2(hyb) from Baa3(hyb) on the back of methodology changes.
The upgrade concludes the review for upgrade started on Jan. 28, 2022 following the publication of the updated cross sector methodology “Assigning Instrument Ratings for Insurers Methodology” published in January, Moody’s said.
“The upgrade of the rating for the RT1 notes reflects Moody's expectation that CNP would maintain its Solvency II ratio sustainably above 190%. Since the inclusion of the policyholders' surplus reserve in the Solvency II calculation at year-end 2019, which benefitted the issuer's ratio by at least 70 percentage points, CNP maintained its Solvency II ratio in excess of 200% and the latest reported ratio was 217% at year-end 2021,” the agency said in a press release.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.