Moody’s assigns Ba2 (hyb) to FWD debt

Moody's Investors Service said it assigned a Ba2 (hyb) rating to FWD Ltd.’s subordinated perpetual capital securities.

The subordinated perpetual hybrid securities will constitute direct, unsecured and subordinated obligations of the issuer, ranking pari passu and without any preference or priority of payment among themselves and with any preference shares of FWD.

Moody’s said the Ba2 (hyb) rating is positioned two notches below FWD’s Baa3 issuer rating (stable) to reflect the fact that these securities will rank behind senior and subordinated debt obligations, and is in line with the agency’s standard notching guidance for preference shares.

© 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.