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Moody’s revises Bupa view to positive
Moody's Investors Service said it affirmed the A2 insurance financial strength rating on Bupa Insurance Ltd. and changed the outlook to positive from stable.
The guaranteed junior subordinated debt rating of Baa1(hyb), the guaranteed senior unsecured debt ratings of Baa2 and unguaranteed subordinated debt rating of Baa3(hyb) issued by Bupa Finance plc were also affirmed.
The outlooks on all debt ratings were changed to positive from stable.
Moody’s said the outlook change reflects: (a) Bupa's geographically expanding footprint in private medical insurance, a product line with relatively low risk; (b) improved financial results sustained by strong underwriting profitability; and (c) the group's strong track record in generating capital via retained earnings and good access to capital markets via debt issuances.
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