Moody’s assigns AIA securities A2(hyb)

Moody’s Ratings said it assigned an A2(hyb) rating to the subordinated dated securities due 2034 to be issued by AIA Group Ltd. under its $16 billion global medium-term note program.

“The A2(hyb) rating of the subordinated dated securities reflects that the obligations will represent direct, unconditional, unsecured and subordinated obligations. The rating is one notch below AIA Group’s A1 issuer rating because the securities are subordinated to the claims of all senior creditors,” Moody’s said in a statement.

The agency said the notes qualify as tier 2 capital for the Hong Kong-based insurer.

The outlook is negative.

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