S&P rates Helvetia notes BBB+

S&P said it assigned a BBB+ long-term issue rating to the junior subordinated dated tier 2 notes to be issued by Helvetia Europe, which is guaranteed by Helvetia Schweizerische Versicherungsgesellschaft AG.

“The issue rating on the proposed notes is two notches below the long-term issuer credit rating on Helvetia Group. This reflects our standard approach for rating subordinated debt issues,” S&P said in a press release.

The proposed notes will have a neutral effect on the agency’s assessment of Helvetia's capital adequacy or financial flexibility or its rating on the group, S&P said.

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