A.M. Best Revises Generali Debt Ratings

Following its assignment of an “a+” rating to Generali’s 500 million euro ($653.4 million) debt issue (see previous article), A.M. Best Co. announced that it has revised the ratings of the debt instruments issued or guaranteed by Assicurazioni Generali SpA.

Without further comment, Best listed the revisions as follows:
Assicurazioni Generali, SpA.–
— from “aa-” to “a+” the rating of 750 million euro [$980 million] 4.5 percent senior debentures, due 2009.
— from “aa-” to “a+” the rating of 1.75 billion euro [$2.29 billion] 6.15 percent senior Eurobonds, due 2010.
— from “a+” to “a” the rating of 750 million euro [$980 million] 6.9 percent fixed/floating rate subordinated callable debentures, due 2022.

Generali Finance B.V. (guaranteed by Generali-Assicurazioni Generali S.p.A.)–
— from “aa-” to “a+” the rating of 1. 5 billion euro [$1.96 billion] 4.75 percent senior unsecured debentures, due 2014.
— from “a+” to “a” the rating of 500 million euro [$653.5 million] 5.065 percent fixed/floating rate subordinated debentures, due 2019.