Fitch lifts Aegon

Fitch Ratings said it upgraded Aegon NV's and some of its subsidiaries' hybrid debt instruments to BBB from BB and removed them from rating watch negative.

The rating action reflects Fitch's review of the risk of coupon deferral on these instruments following the company's announcement that it expects to receive final approval from the European Commission regarding the €3 billion of capital support the company obtained from the Dutch State in 2008.

The previous rating level of BB and the RWN reflected heightened risk, in Fitch's opinion, of coupon deferral on these instruments as a consequence of the European Union's concept of "burden sharing" for state-aided financial institutions.

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