Fitch rates Aon Capital preferreds BBB

Fitch Ratings said it assigned a BBB rating to Aon Capital A's existing $726 million 30-year 8.205% mandatorily redeemable preferred capital securities due Jan. 1, 2027.

The outlook is negative.

Aon Corp. provides a full and unconditional guarantee of Aon Capital A's obligations under the capital securities and thus Fitch's rating of Aon Capital A reflects Aon's credit quality as well as the subordination of the capital securities to Aon's senior unsecured debt. Fitch's long-term issuer rating on Aon is BBB+ with a negative outlook.

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