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FOR IMMEDIATE RELEASE
AMSTERDAM - MARCH 27, 2024 11:43 AM (EDT)
AM Best has removed from under review with positive implications and upgraded the Long-Term Issue Credit Rating (Long-Term IR) to “bbb+" (Good) from “bbb” (Good) on 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). The outlook assigned to this Credit Rating (rating) is stable. The Long-Term IR was placed under review with positive implications on 18 January 2024, following the release of the updated Best’s Credit Rating Methodology (BCRM). The rating has been removed from under review with positive implications as AM Best has completed its analysis of the subordinated debt and its guarantor under the updated BCRM.
The upgrade of the Long-Term IR reflects AM Best’s opinion that the rating fundamentals of Atradius N.V., the guarantor of the subordinated debt, as analysed under the updated BCRM, are supportive of the revised Long-Term IR. AM Best considers Atradius N.V. to be part of a Collective Capital Management Group, leading to the revised notching for its guaranteed debt.
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.