Moody's rates Aon notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to €500 million of five-year notes being issued by Aon Financial Services Luxembourg SA, based on an unconditional and irrevocable guarantee from Aon Corp. (senior unsecured debt rated Baa2).

The outlook is stable.

Proceeds will be available for general corporate purposes, including repayment of all current borrowing under Aon's €650 million multi-currency revolving credit facility.

"Aon's ratings reflect its strong market presence in global insurance brokerage, along with its broad product and geographic diversification," Bruce Ballentine, Moody's analyst, said in a statement.

These strengths are tempered by the company's moderate but improving operating margins, the agency noted

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