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Fitch rates CNP Assurances bond BBB+
Fitch Ratings said it rated CNP Assurances SA’s offering of €500 million of tier 2 subordinated sustainable bonds due July 18, 2053, BBB+.
“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 below-average recovery and for moderate non-performance risk, in line with Fitch's notching criteria,” the agency said in a press release.
CNP Assurances will use the proceeds to finance or refinance social and/or green assets in line with the eligibility criteria presented in its sustainable bond framework.
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