IPO sees rating upgrade for Hastings
Moody’s increases Hastings rating by two notches with a stable outlook.
Rating agency Moody's has upgraded by two notches the senior secured debt rating on Hastings Insurance Group to Ba3 and the insurance financial strength rating on Advantage Insurance Company, the group's insurance operating subsidiary, to Ba1.
The agency said both ratings have a stable outlook and the rating action follows the announcement on 12 October that Hastings has completed an initial public offering (IPO) at 170p per share.
Moody's commented: "The two notch upgrade reflects the sustained
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