Fitch rates Achmea notes A-

Fitch Ratings said it assigned Achmea BV’s €750 million of seven-year senior unsecured notes with a fixed coupon of 1.5% per year a rating of A-.

The notes are rated one notch below Achmea’s issuer default rating of A to reflect Fitch’s recovery assumption of below average, in line with Fitch’s debt notching criteria, the agency said.

Fitch said it views the issue as neutral to leverage, capitalization and fixed-charge coverage because the notes are being issued to pre-finance €750 million of senior notes maturing in November.

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