(CercleFinance.com) – Moody’s announced on Monday evening that it is placing its Aegon credit ratings under review for downgrading, following the group’s announcement of an agreement to merge its activities in the Netherlands with ASR to ‘create a leading Dutch insurance player’.
As a reminder, Aegon will receive cash proceeds of €2.5 billion and a 29.99% stake in the combined entity. The sums thus garnered will be partly returned to the shareholders and partly used to repay debts.
The agency points to a change in the credit profile resulting from the potential change in the regulatory regime that will apply to the group and the reduced diversification of its cash flows in the context of weakening economic conditions.
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