Fitch assigns Scottish Widows with expected A+ rating.
Fitch Ratings, the international rating agency, has today assigned the UK life insurer Scottish Widows plc's issue of Step-Up Perpetual Subordinated Notes an expected rating of 'A+'. The assignment of the final rating is contingent on receipt of final documents conforming to information already received.
The notes are perpetual in nature, but will be callable from 10 years. At this point, if not called, then a step-up of 100bps will apply. Coupons can be deferred on a cumulative basis, at the companyOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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