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Fitch gives A- to AIA subordinated securities
Fitch Ratings said it assigned an A- rating to AIA Group Ltd.’s (issuer default rating AA-/stable) proposed U.S. dollar-denominated subordinated perpetual securities.
The proposed perpetual securities will be issued through AIA's global medium-term note and securities program. The proceeds of the perpetual securities will be used for general corporate purposes.
The proposed securities are rated three notches below AIA's IDR, comprising two notches for 'Poor' recovery assumptions and one notch for 'Minimal' non-performance risk, according to Fitch's methodology.
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