The proposed change to QBE Insurance Group’s outstanding US$400 million Additional Tier 1 (AT1) notes will not affect its ratings, according to Fitch.
In a release, the international ratings agency said the proposed change to the loss-absorption feature of the group’s AT1 notes issued in November 2017, will have no impact. Fitch’s view, it said, remains unchanged to the subordination, recovery or non-performance risk of the instrument.
You've reached your limit - Register for free now for unlimited access
To read the full story, and get unlimited access to Insurance Business website content, just register for free now. GET STARTED HERE
Already a website member? Log in below.