Moody's rates Intact notes Baa1

Moody's Investors Service said it assigned a Baa1 rating to the C$200 million series 5 senior notes due in 2042 to be issued by Intact Financial Corp.

Moody's said the offering constitutes a drawdown from Intact's existing shelf registration.

Intact's Baa1 senior unsecured debt rating is based on its excellent market position in the highly fragmented Canadian P&C industry, which is bolstered by the September 2011 acquisition of AXA Canada, the sixth largest Canadian insurer, the agency said.

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