Moody’s affirms Generali rating
Moody's Investors Service has announced that it had affirmed the Aa3 insurance financial strength rating and A1/A2/A3 debt ratings of Assicurazioni Generali. The rating actions follow Generali's announcement that it intended to acquire Toro Assicurazioni for a total consideration of €3.9bn, along with a suspension of the previously-announced €1.8bn equity buy-back and a further repayment of €700m of outstanding senior debt.
On 26 June 2006, Generali announced its intentions of pursuing an all-cash acquisition of Toro, the fifth largest P&C insurer in Italy. With this acquisition, Generali would not only improve its
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