Moody’s assigns Baa3(hyb) rating to Assicurazioni Generali bonds

Moody’s Investors Service said it assigned a Baa3(hyb) rating to the €750 million fixed-rate senior dated subordinated tier 2 notes due 2030, which qualify as green bonds, 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 in a press release.

The notes are intended to qualify as tier 2 capital.

Generali is selling the notes in conjunction with its buyback offer for up to €1 billion of subordinated notes.

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