A.M. Best Assigns Debt Rating to Allianz SE’s New Junior Subordinated Notes

A.M. Best has assigned a debt rating of “a” to the EUR 1,500 million junior subordinated notes issued by Allianz SE (Germany). The outlook assigned to the rating is stable. The existing ratings of Allianz SE remain unchanged.

The undated subordinated bond was issued on September 18 and will pay a fixed annual coupon of 3.375%. A.M. Best believes that proceeds of the issuance will be used by Allianz SE for general corporate purposes and to replace maturing debt.

The financial and debt leverage ratios both remain within A.M. Best’s tolerance levels for the ratings.

The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.

In accordance with Regulation (EC) No. 1060/2009, the following is a link to required disclosures: A.M. Best Europe - Rating Services Limited Supplementary Disclosure.

This rating announcement has been issued by A.M. Best Europe – Rating Services Limited, which is a subsidiary of A.M. Best Company. A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

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