A.M. Best Assigns Rating to Subordinated Notes to be issued by Hannover Finance (Luxembourg) S.A and Guaranteed by Hannover Re AG Business Wire LONDON -- November 13, 2012 A.M. Best Europe – Rating Services Limited has assigned a debt rating of “a+” to the proposed subordinated fixed to floating rate notes due 2043 to be issued by Hannover Finance (Luxembourg) S.A (Luxembourg) and irrevocably guaranteed on a subordinated basis by Hannover Rückversicherung AG (Hannover Re) (Germany). The assigned outlook is stable. A.M. Best expects that the proceeds from the debt offering will be used for general business purposes. The subordinated fixed to floating rate notes will pay a fixed annual coupon until 30 June 2023, when the interest rate will convert to a floating rate based on a three-month Euro Interbank Offered Rate, plus a margin (including a 100bp step-up). Financial and debt leverage ratios are expected to remain within A.M. Best’s tolerance levels. The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Key criteria utilised include “Insurance Holding Company and Debt Ratings”. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology. In accordance with Regulation (EC) No. 1060/2009, the following is a link to required disclosures: A.M. Best Europe - Rating Services Limited Supplementary Disclosure. A.M. Best Europe – Rating Services Limited is a subsidiary of A.M. Best Company. Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com. Copyright © 2012 by A.M. Best Company, Inc. ALL RIGHTS RESERVED. Contact: A.M. Best Europe – Rating Services Limited Sam Dobbyn Associate Director +(44) 20 7397 0264 firstname.lastname@example.org or Carlos Wong-Fupuy Senior Director +(44) 20 7397 0287 email@example.com or Rachelle Morrow Senior Manager, Public Relations +(1) 908 439 2200, ext. 5378 firstname.lastname@example.org or Jim Peavy Assistant Vice President, Public Relations +(1) 908 439 2200, ext. 5644 email@example.com
A.M. Best Assigns Rating to Subordinated Notes to be issued by Hannover Finance (Luxembourg) S.A and Guaranteed by Hannover Re
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