Moody’s revises Ageas to positive

Moody's Investors Service said it changed the outlook on Ageas SA/NV to positive and affirmed the Baa3 issuer rating.

Moody’s said the change in outlook to positive reflects its view that the recent settlement agreement filed in the Netherlands is a fundamental milestone towards resolving the uncertainty related to the legal risks and the corresponding costs arising from legacy issues in relation to Fortis group (as the issuer was formerly known) for events occurred in 2007 and 2008.

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