Aviva PLC Moody's upgrades Aviva plc's credit rating (2993U)
October 23 2017 - 2:09AM
UK Regulatory
TIDMAV.
RNS Number : 2993U
Aviva PLC
23 October 2017
23 October 2017
Moody's upgrades Aviva plc's credit rating
Aviva plc ("Aviva") acknowledges that Moody's has upgraded its
rating by one notch to Aa3.
Aviva welcomes this action by Moody's. Over the past five years,
Aviva has significantly improved the strength and resilience of its
capital position and has simplified its business structure to focus
on those markets where it has the strongest franchises and
sustainable earnings and cash-flow.
Tom Stoddard, Aviva plc Chief Financial Officer, said:
"This upgrade by Moody's to Aa3 is an important milestone for
Aviva. It recognises the significant progress in recent years to
strengthen Aviva's balance sheet, which resulted in an increase to
our Solvency II capital surplus to GBP11.4 billion at 30 June 2017.
We remain focused on extending our track record of growth in
operating EPS and the significant levels of surplus cash building
at group centre provide scope for us to continue to reduce debt and
invest in growing our businesses".
-ends-
Enquiries:
Media
Sarah Swailes +44 (0)20 7662 6700
Analysts
Chris Esson +44 (0)20 7662 8115
Notes to editors:
-- Aviva provides life insurance, general insurance, health
insurance and asset management to 33 million customers.
-- In the UK we are the leading insurer serving one in every
four households and have strong businesses in selected markets in
Europe, Asia and Canada. Our shares are listed on the London Stock
Exchange and we are a member of the FTSE100 index.
-- Aviva's asset management business, Aviva Investors, provides
asset management services to both Aviva and external clients, and
currently manages over GBP340 billion in assets. Total group assets
under management at Aviva group are GBP450 billion.
-- Aviva helps people save for the future and manage the risks
of everyday life; we paid out GBP34.4 billion in benefits and
claims in 2016.
-- By serving our customers well, we are building a business
which is strong and sustainable, which our people are proud to work
for, and which makes a positive contribution to society.
-- The Aviva media centre at http://www.aviva.com/media/
includes company information, images, and a news release
archive.
-- For an introduction to what we do and how we do it, please click here http://www.aviva.com/about-us/aviva/
-- For broadcast-standard video, please visit http://www.aviva.com/media/b-roll-library/
-- Follow us on twitter: www.twitter.com/avivaplc/
-- Follow us on LinkedIn: www.linkedin.com/company/aviva-plc
-- For the latest corporate films from around our business, subscribe to our YouTube channel: www.youtube.com/user/aviva
-- We have a Globelynx system for broadcast interviews. Please
contact the Press Officer noted above if you would like to make a
booking.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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