Moody’s rates FWD Group Holdings Baa2

Moody's Investors Service said it assigned a (P)Baa2 senior unsecured medium-term note program rating to FWD Group Holdings Ltd.'s MTN program.

At the same time, the agency assigned Baa3(hyb), Ba1 and Ba1(hyb) ratings to the outstanding $600 million of subordinated perpetual capital securities, $900 million of junior subordinated notes due 2024, and $750 million zero coupon junior subordinated perpetual capital securities, respectively, of FWD Group.

These debts were issued by FWD Group Ltd. (FGL), which is a subsidiary of FWD Group and the novation of these debts from FGL to FWD Group, which was completed on Aug. 25.

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