Aegon deferral risk drops after EC approves state aid plan

19 Aug 2010

Credit default swaps and cash bond spreads of Dutch insurer Aegon tightened this week after the company came to an agreement with the European Commission for the repayment of the Eu2bn of state aid it still owes to the Dutch government.

The issuer’s subordinated CDS moved in by 10bp while cash spreads tightened by a handful of basis points.

Fitch upgraded Aegon’s perpetual hybrid debt from BB to BBB after the announcement.

"From a ratings perspective, the crucial point in Aegon’s announcement is that there is no reference to ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial