Moody's assigns Coface notes Baa1

Moody's Investors Service said it assigned a Baa1(hyb) rating with a stable outlook to the planned guaranteed subordinated notes to be issued by Coface SA and guaranteed by Compagnie francaise d'assurance pour le commerce exterieur A2 insurance financial strength rating).

Moody's said that the Baa1(hyb) rating assigned to the notes reflects the fact that the notes are unconditionally and irrevocably guaranteed by Coface (operating company) on a subordinated basis and reflect standard notching (versus the guarantor's insurance financial strength rating) for subordinated debt that lacks a mandatory trigger the agency considers to be "meaningful."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.