Credit rating agency Moody’s has affirmed its financial strength and subordinated notes ratings for CNP Assurances despite the unprecedented health and financial crisis.
As previously, the A1 financial strength rating (with stable outlook) for the Group does not include any specific uplift linked to CNP Assurances’ shareholding structure. In its press release published on Friday, Moody’s underlined CNP Assurances’ “the group’s strong market position, supported by long-term exclusive distribution agreements with its main banking partners, and a limited liability risk profile, evidenced by a low average guaranteed rate on its French life products”.
The following table shows CNP Assurances’ current ratings:
| Credit rating agency | Moody’s |
|---|---|
| Financial strength rating | A1 |
| Tier 2 and Tier 3 subordinated notes rating | A3 |
| Restricted Tier 1 subordinated notes rating | Baa3 |
"This latest credit rating by a leading agency once again reflects CNP Assurances’ excellent credit quality and strength despite today’s particularly difficult health, economic and financial backdrop" said Antoine Lissowski, Chief Executive Officer of CNP Assurances.