Germany-Based Global Multiline Insurer Allianz SE's Fixed-To-Floating Rate Notes Rated 'A+'

S&PGR Assigns 'A+' Rating To Allianz SE Notes FRANKFURT (S&P Global Ratings) June 2, 2022--S&P Global Ratings today assigned its 'A+' long-term issue rating to the deferrable, subordinated, and dated notes issued by Germany-based global multiline insurance group Allianz SE (AA/Stable/A-1+). In accordance with our methodology for junior subordinated debt issues, we rate the notes two notches below our 'AA' long-term issuer credit rating on Allianz SE, which is unchanged. We base the rating on the notes on our understanding that noteholders are subordinated to the company's senior creditors, and that Allianz SE can defer interest if, during the previous six-month period: It has not declared or paid dividends, other distributions, or payments in respect of any class of shares;

...June 2, 2022 S&PGR Assigns 'A+' Rating To Allianz SE Notes FRANKFURT (S&P Global Ratings) June 2, 2022--S&P Global Ratings today assigned its 'A+' long-term issue rating to the deferrable, subordinated, and dated notes issued by Germany-based global multiline insurance group Allianz SE (##/Stable/A-1+). In accordance with our methodology for junior subordinated debt issues, we rate the notes two notches below our '##' long-term issuer credit rating on Allianz SE, which is unchanged. We base the rating on the notes on our understanding that noteholders are subordinated to the company's senior creditors, and that Allianz SE can defer interest if, during the previous six-month period: - It has not declared or paid dividends, other distributions, or payments in respect of any class of shares; or - It has made no payment on account of balance-sheet profits since the most recent ordinary general meeting of shareholders. Furthermore, we understand that interest deferral is mandatory if the minimum...

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