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Fitch gives Generali notes A+ rating
Fitch Ratings said it assigned Assicurazioni Generali SpA's €1.75 billion 5.125% senior unsecured notes an A+ rating.
The proceeds will be used to refinance existing senior debt of €1.75 billion maturing on July 20, 2010. The tenor of the issue is 15 years.
Fitch estimates that financial debt leverage for Generali will rise slightly in the near term, but this impact will reverse out when the July 2010 senior debt matures. Overall, Fitch said it regards the issue in a positive light, as it will remove the 2010 refinancing risk.
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