Credit rating agency Fitch Ratings has affirmed it’s A+ financial strength rating (with stable outlook) and its subordinated notes ratings for CNP Assurances despite the unprecedented health and financial crisis.
In its press release published today, Fitch Ratings underlined that “The rating reflects CNP's very strong business profile, strong capitalisation and leverage and a stable record of financial performance. These strengths are partly offset by the insurer's relatively high asset risks for the rating, and its sensitivity to the low interest rates environment.”
The following table shows CNP Assurances’ current ratings:
|Credit rating agency||Fitch Ratings|
|Financial strength rating||A+|
|Tier 2 and Tier 3 subordinated notes rating||BBB+|
|Restricted Tier 1 subordinated notes rating||BBB-|
“The affirmation by Fitch Ratings of its A+ rating for CNP Assurances underlines the Group's financial strength despite today’s still difficult health, economic and financial backdrop” said Stéphane Dedeyan, Chief Executive Officer of CNP Assurances.