Moody's rates Aon notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to a pending issuance of senior unsecured notes by Aon plc.

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

Proceeds will be used to repay commercial paper borrowings and for general corporate purposes. The outlook is positive.

"Aon generated 3% organic revenue growth through the first nine months of 2013, while maintaining fairly strong EBITDA and net profit margins," Moody's lead analyst for Aon Bruce Ballentine said in a news release. "The company is nearing the end of a series of restructuring programs, which should support margin improvement in the year ahead, although the margin impact will be tempered by further investments in the business."

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