Moody’s keeps Ageas on review

Moody's Investors Service said that it is continuing its review for upgrade of Ageas SA/NV's Baa2 long-term issuer rating and of Ageasfinlux SA's Ba2(hyb) backed junior subordinated debt rating.

The review for upgrade reflects the high likelihood of resolution of legacy issues inherited from the Fortis group, the agency said.

Additionally, the change in group structure, whereby Ageas SA/NV will operate as a reinsurance operating company, could further enhance its credit profile, potentially resulting in an upgrade by more than one notch, Moody’s added.

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