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Fitch rates CNP Assurances notes BBB+
Fitch Ratings said it assigned CNP Assurances SA's planned issue of €500 million of tier 2 subordinated notes a BBB+ rating.
“The notes are rated two notches below CNP's long-term issuer default rating (IDR) of A, which has a stable outlook, comprising a notch each for expected recovery and for moderate non-performance risk, in line with Fitch's notching criteria,” the agency said in a press release.
CNP will use the proceeds for general corporate purposes.
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