CNP Assurances: share up after Moody's comments
(CercleFinance.com) - CNP Assurances shares are up slightly on Monday morning in Paris after Moody's reaffirmed the insurer's rating on Friday.
At 9.45am, the stock was up 0.3%, outperforming the SBF 120 index, which is up 0.1%.
In a statement published this morning, CNP said that Moody's had confirmed its "A1" rating, with a "stable" outlook, as well as that of the subordinated securities issued by the group, despite the health and financial crisis which is deemed "unprecedented".
CNP notes that in its rating published on Friday, Moody's highlights the group's strong market position, supported by long-term exclusive distribution agreements with its main banking partners.
The agency also highlights its "limited liability risk profile, evidenced by a low average guaranteed rate on its French life products", CNP adds.
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At 9.45am, the stock was up 0.3%, outperforming the SBF 120 index, which is up 0.1%.
In a statement published this morning, CNP said that Moody's had confirmed its "A1" rating, with a "stable" outlook, as well as that of the subordinated securities issued by the group, despite the health and financial crisis which is deemed "unprecedented".
CNP notes that in its rating published on Friday, Moody's highlights the group's strong market position, supported by long-term exclusive distribution agreements with its main banking partners.
The agency also highlights its "limited liability risk profile, evidenced by a low average guaranteed rate on its French life products", CNP adds.
Copyright (c) 2021 CercleFinance.com. All rights reserved.