Trieste – Moody’s announced that it has affirmed the Baa1 IFS rating on Assicurazioni Generali SpA.
Concurrently the rating agency has affirmed the ratings of debt instruments issued or guaranteed by Generali (Baa2 senior debt; Baa3 senior subordinated debt; Ba1(hyb) preference stock). The outlook remains Stable.
Moody’s said that “the affirmation of Generali’s ratings with a stable outlook reflects the group’s strong and diversified business profile, as well as the improvements in profitability and capitalisation over the recent years. Moody’s views Generali’s business profile as strong thanks to very good market positions in its main markets, notably Italy, Germany and France, a predominance of retail business, which is typically less volatile than the commercial business, and very good geographic and business diversification. The stable outlook also reflects Moody’s expectations that the impact of low interest rates and of the volatility in financial markets will remain moderate on Generali’s profitability and capital”.