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Portada > Issuance and Ratings

Issuance and ratings

  • Ratings
  • Debt issuance

These are the ratings assigned by Standard & Poor’s (S&P) Global Ratings, A.M. Best and Fitch Ratings to the holding company of MAPFRE Group and the debt it has issued, as well as to its main subsidiaries.

 S&P Global RatingsFitch RatingsA.M. Best
MAPFRE S.A. - IssuerA- (Stable)A- (Stable)-
MAPFRE S.A. - Senior debtA-BBB+-
MAPFRE S.A. - Subordinated debtBBBBBB--
Financial strength
- MAPFRE REA+ (Stable)-A (Stable)
- MAPFRE ESPAÑA--A (Stable)
- MAPFRE ASISTENCIA-A+ (Stable)-
Latest reportStandard and Poor’s - MAPFRE Group (22 July 2021)Fitch – MAPFRE Group (Press Release July 29, 2021)

Fitch – MAPFRE Group (Rating Report August 4, 2021)
AM Best - MAPFRE Group Subsidiaries (October 14, 2021)
Previous reportStandard and Poor’s - MAPFRE Group (30 June 2021)Fitch – MAPFRE Group (Rating Report October 2, 2020)-

* The rating agencies can revise, suspend or withdraw ratings at any time.

MAPFRE S.A. RATINGS HISTORY

AgencyRatingOutlookDate
Fitch RatingsA-Stable07/29/2021
S&P Global RatingsA-Stable07/22/2021
S&P Global RatingsA-Stable10/15/2020
Fitch RatingsA-Stable09/21/2020
Fitch RatingsA-Stable04/28/2020
S&P Global RatingsA-Stable11/18/2019
Fitch RatingsA-Stable10/08/2019
S&P Global RatingsBBB+Positive07/26/2019
S&P Global RatingsBBB+Positive03/21/2019
Fitch RatingsA-Stable01/23/2019
Fitch RatingsA-Stable09/27/2018
S&P Global RatingsBBB+Positive09/12/2018
S&P Global RatingsBBB+Positive03/27/2018
Fitch RatingsA-Stable01/25/2018

The long-term debt rating scales used by said agencies are as follows:

 S&P Global RatingsFitch RatingsA.M. Best
Investment categoryAAAAAAaaa
AA+AA+aa+
AAAAaa
AA-AA-aa-
A+A+a+
AAa
A-A-a-
BBB+BBB+bbb+
BBBBBBbbb
BBB-BBB-bbb-

The following chart offers a summary of the most important information about the Company’s currently issued debt.

ISINES0224244071ES0224244089ES0224244097
SubordinationSenior UnsecuredSubordinated UnsecuredSubordinated Unsecured
Issue Date05/19/201603/31/201709/07/2018
Call date-03/31/2027 or any interest payment date thereafter07/09/2028 or any interest payment date thereafter
Maturity05/19/202603/31/204709/07/2048
Nominal amount issued€1 billion€600 million€500 million
Nominal amount outstanding€857.3 million*€600 million€500 million
Interest1.625% fixed coupon4.375% per annum (annual) until first call date, thereafter 3m Euribor + 454.3 bps (floating, quarterly)4.125% per annum (annual) until first call date, thereafter 3m Euribor + 430 bps (floating, quarterly)
Prospectus(05.2016) Senior Notes Issuance of MAPFRE S.A.(04.2017) Issuance of subordinated debt of MAPFRE S.A.(08.2018) Issuance of subordinated debt of MAPFRE S.A.
Rating agency report-(03.2017) S&P MAPFRE subordinated debt report(08.2018) Fitch MAPFRE subordinated debt report

*On December 1, 2021, MAPFRE announed a tender offer in cash intended for the holders of the securities issued by MAPFRE corresponding to the issuance “MAPFRE S.A. SENIOR UNSECURED NOTES ISSUANCE 1-2016” with ISIN code ES0224244071. The final results of the tender offer, which were announced on December 10, 2021, can be found in the privileged information sent to the CNMV.