Moody's upgrades Bupa Finance plc debt ratings
Credit rating agency Moody’s has upgraded by one notch the debt ratings of Bupa Finance plc, Bupa’s main financing and intermediate holding company. A full list of ratings impacted is available at the end of this press release.
This rating action follows Moody’s recent publication of a new cross sector methodology for assigning instrument ratings for insurers. Moody’s has modified its guidance for rating certain insurance holding company instruments, and specifically now applies narrower notching where there is enhanced regulatory supervision at a group-wide level. The credit rating agency considers that Solvency II is one of the regulatory regimes which provides enhanced group supervision.
See the full announcement from Moody’s.
List of affected ratings
Issuer: Bupa Finance plc
Backed Senior Unsecured, upgraded to A3 from Baa1
Subordinate, upgraded to Baa1(hyb) from Baa2(hyb)
Outlook remains stable
Bupa's purpose is helping people live longer, healthier, happier lives.
With no shareholders, our customers are our focus. We reinvest profits into providing more and better healthcare for the benefit of current and future customers.
We have 15.5m health insurance customers, provide healthcare to over 14.5m people in our clinics and hospitals, and look after over 22,000 aged care residents.
We employ over 78,000 people, principally in the UK, Australia, Spain, Poland, Chile, New Zealand, Hong Kong, the USA, Brazil, the Middle East and Ireland. We also have associate businesses in Saudi Arabia and India.
Health insurance is around 70% of our business. In a number of countries, we also run clinics, dental centres, hospitals and care homes and villages.
For more information, visit www.bupa.com.