S&P rates Zurich Insurance notes A

S&P said it assigned its A long-term issue rating to the euro-denominated, dated, and junior subordinated notes to be issued by Zurich Finance (Ireland) DAC. The notes are guaranteed by Zurich Insurance Co. Ltd.

The securities benefit from a subordinated guarantee from Zurich that meets S&P’s criteria for credit substitution. “As such, we rate these notes as if they were a subordinated obligation of ZIC,” S&P said in a press release.

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