Moody’s affirms the A2 IFS Rating and Baa1(hyb) subordinated debt rating of KLP

London, 20 May 2016 — Moody’s Investors Service has today affirmed Kommunal Landspensjonkasse (KLP)’s A2 IFS (Insurance Financial Strength) rating and Baa1(hyb) subordinated debt down-market-graph-300x225rating.

The rating agency has also changed the outlook to stable from negative.

RATINGS RATIONALE

The change of outlook to stable from negative reflects KLP’s material strengthening in capitalisation over the last two years, with the parent/main operating company reporting a Solvency II capital ratio of 197% as at 1Q 2016 (on a standard formula basis and without transitional measures), while the group has reported 190% on the same basis.

Continue Reading at Moody’s News

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