Best’s News & Research Service - January 18, 2024 09:54 AM (EST)
AM Best Places Issue Credit Rating of Atradius Finance B.V. Under Review Following Updated BCRM Release
- January 18, 2024 09:54 AM (EST)
Amsterdam //BestWire// - AM Best has placed under review with positive implications the Long-Term Issue Credit Rating (Long-Term IR) of “bbb” (Good) of the EUR 250 million, 5.25% subordinated fixed to floating rate guaranteed notes, due 2044, issued by Atradius Finance B.V. (Netherlands) and unconditionally and irrevocably guaranteed on a subordinated basis by Atradius N.V. (Netherlands), following the release of the updated Best’s Credit Rating Methodology (BCRM) on 18 January 2024.
The main updates to BCRM focus on Part IV: Insurance Holding Company and Issue Credit Ratings. The changes are related primarily to the notching used to derive the Long-Term Issuer Credit Rating of an insurance holding company and associated issue ratings.
AM Best will assess the issue under the revised approach to holding company and debt notching under the updated BCRM and will complete any corresponding Credit Rating (rating) update in the near term.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.