Moody’s affirms Aon on sale

Moody's Investors Service said it affirmed the Baa2 guaranteed senior unsecured debt rating of Aon plc following the company's announcement that it will sell its benefits administration and HR business process outsourcing (BPO) platform to Blackstone for cash consideration of $4.3 billion at closing and additional consideration of up to $500 million based on future performance.

Aon's after-tax cash proceeds will be about $3 billion. The companies expect to complete the transaction by the end of the second quarter.

The outlook is stable.

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