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S&P rates Aviva debt BBB
Standard & Poor's said it assigned its BBB rating to Aviva plc's proposed issuance of junior subordinated debt from its £5 billion euro note program.
The dated issue is expected to have a 30-year term and pay a fixed coupon until the first call date 10 years after issuance.
S&P said the ratings reflect its standard notching for junior subordinated debt issues, which in this instance is two notches below the long-term counterparty credit rating on the issuer.
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