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S&P assigns PZU ICR A, notes A-
Standard & Poor's said it assigned an A- rating to the proposed €500 million to €750 million guaranteed unsecured notes due in 2019 to be issued by PZU Finance AB (publ) and guaranteed by Powszechny Zaklad Ubezpieczen SA (PZU SA).
The agency also assigned an A long-term foreign currency issuer credit rating to PZU, in line with the local currency issuer credit rating on the company.
The outlook is stable.
S&P said the issue rating reflects its view of the full, unconditional guarantee from PZU SA, the core operating company of the PZU Group.
The rating is one notch below the newly assigned long-term foreign currency issuer credit rating on the guarantor, in line with the agency’s methodology for rating senior unsecured issues.
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