Fitch rates Athora notes BB

Fitch Ratings said it assigned Athora Netherlands NV’s proposed dated subordinated tier 2 euro notes a BB rating.

“The notes are rated three notches below Athora Netherlands’ long-term issuer default rating (IDR) of BBB, which has a stable outlook, comprising two notches for expected recovery and one for moderate non-performance risk,” Fitch said in a press release.

The new notes will replace the €250 million of subordinated debt issued by Athora Netherlands’ subsidiary Srlev NV, which was announced to be called on its first call date on April 15.

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