Fitch rates Groupama green bond BBB

Fitch Ratings said it gave Groupama Assurances Mutuelles' planned issue of €500 million of seven-year tier 3 subordinated notes a BBB rating.

“The proposed notes are rated two notches below Groupama's A- long-term issuer default rating, comprising a notch each for below-average recovery prospects and for moderate non-performance risk.

The proceeds will be used to finance or re-finance, in part or in full, new and/or eligible green assets or projects as set out and defined in the company's green bond framework.

The outlook is positive.

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