Moody’s rates Munich Re green bond A2

Moody's Investors Service said it assigned an A2(hyb) rating to the proposed dollar-denominated subordinated bond due 2042 to be issued by Munich Reinsurance Co.

“The A2(hyb) rating is consistent with Moody's standard notching practices for debts issued by insurance operating companies and reflects (i) the subordination of the bond (ii) the optional and mandatory (based on breach of regulatory capital requirements) coupon skip mechanisms and (iii) the cumulative nature of deferred coupons, in case of deferral,” the agency said in a press release.

The outlook is stable.

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