S&P Affirms `A-1+' Rating on CGNU PLC's Euro CP Prog.Business Editors LONDON--(BUSINESS WIRE)--Standard & Poor's Nov. 28, 2000-- Standard & Poor's today affirmed its 'A-1'-plus rating on CGNU CGNU Crazy Go Nuts University (Homestar Runner) CGNU Commercial Union, General Accident and Norwich Union (insurance group, renamed Aviva) PLC's enlarged Euro Commercial Paper Program, which is guaranteed by CGU CGU Conditions Générales d'Utilisation (French) CGU Claremont Graduate University (Claremont, CA) CGU Chang Gung University (Taiwan) CGU Canadian Geophysical Union International Insurance PLC (local currency rating of AA/Stable/A-1+, foreign currency rating of --/--/A-1+). CGNU PLC has increased the issuance limit to GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2 billion ($1.4 billion) from GBP1 billion and maintains appropriate back-up facilities for the rating. In the U.K., all future euro commercial paper issued by the CGNU group will be under the enlarged CGNU PLC scheme. There will be no new issuance under the GBP1 billion Norwich Union Norwich Union is an insurance company in the UK. It is the biggest life-insurer in the UK, and has a strong position in motor insurance. It is part of the Aviva group, itself created by a merger of Norwich Union and CGU plc in 2000. PLC Euro Commercial Paper Program, which will be withdrawn when current outstandings have been repaid, Standard & Poor's said.--CreditWire. |
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