Moody’s rates Hanwha Life debt A3 (hyb)

Moody's Investors Service said it assigned an A3 (hyb) rating to Hanwha Life Insurance Co., Ltd.'s proposed subordinated capital securities.

The subordinated perpetual hybrid securities will constitute direct, unsecured and subordinated obligations of the issuer, ranking pari passu and without any preference among themselves and pari passu with any parity obligations and in priority to the claims of holders of the preferred and common shares of the issuer.

Moody’s said the A3(hyb) rating is positioned two notches below Hanwha Life's A1 insurance financial strength rating (stable outlook) to reflect that these securities will rank behind senior and subordinated debt obligations, and is in line with Moody's standard notching guidance for junior subordinated securities.

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