Moody’s gives Generali bonds Baa3

Moody’s Investors Service said it assigned a Baa3(hyb) rating to the €600 million fixed-rate senior dated subordinated tier 2 green notes due 2031 to be issued by Assicurazioni Generali SpA.

“The Baa3(hyb) rating reflects Moody’s Baa2 senior unsecured debt rating of Generali and Moody’s standard notching practices for such instruments,” the agency said.

The offering is in conjunction with Generali’s buyback offer for subordinated notes with first call dates in 2022 for an amount up to €600 million, Moody’s said.

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