Fitch rates Rothesay notes BBB-

Fitch Ratings said it assigned Rothesay Life plc's planned dollar-denominated perpetual subordinated restricted tier 1 notes a BBB- rating.

The notes are rated four notches below Rothesay's IDR, comprising two notches each for 'poor' recovery and for 'moderate' non-performance risk, Fitch said.

The proceeds are expected to be used to fund Rothesay's general commercial and corporate activities.

The outlook is stable.

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