S&P rates Achmea notes BBB-, BB+

S&P said it assigned a BBB- rating to Achmea BV’s junior subordinated debentures and a BB+ rating to its perpetual subordinated notes that will be eligible as restricted tier 1 capital under the EU’s Solvency II regulations.

“The payment risk is in line with other hybrid instruments,” said S&P in a news release.

The agency sees classifying the notes as having intermediate equity content.

Proceeds are expected to be used for general corporate purposes.

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