Moody's assigns Aon notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to €500 million of 12-year senior unsecured notes being issued by Aon plc (guaranteed senior unsecured debt Baa2).

The notes are being issued off Aon's multi-purpose shelf registration and will be guaranteed by its main U.S. subsidiary, Aon Corp. (guaranteed senior unsecured debt Baa2).

Proceeds will be used for general corporate purposes, including repayment of €500 million of guaranteed notes issued by a Luxembourg subsidiary of Aon and maturing in July 2014.

The outlook for Aon and its subsidiaries is stable.

Moody's said Aon's ratings reflect its global market presence as one of the two largest insurance brokerage and consulting firms.

Its risk solutions segment, accounting for about two-thirds of revenue, helps clients assess risks and mitigate them through insurance and reinsurance placements. The HR Solutions segment, accounting for one-third of revenue, advises clients on complex benefits, talent and related matters and helps them design and administer human resource solutions.

Aon's business is well diversified across clients, products and regions, and the company has achieved healthy profit margins over the past several years under a variety of economic conditions, Moody's said.

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