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Home > Issuance and Ratings

Issuance and ratings

  • Ratings
  • Debt issuance

These are the ratings assigned by Standard & Poor’s (S&P) Global Ratings, Moody’s, 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 RatingsMoody'sA.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)-A (Stable)
- MAPFRE ESPAÑA-A+ (Stable)-A (Stable)
- MAPFRE VIDA-A+ (Stable)--
- MAPFRE ASISTENCIAA+ (Stable)A2 (Stable)-
Latest reportStandard and Poor’s – MAPFRE Group (November 18, 2019)Fitch – MAPFRE Group (April 28, 2020)--
Previous reportStandard & Poor’s – MAPFRE Group (July 26, 2019)Fitch – MAPFRE Group (October 8, 2019)--

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



S&P Global RatingsBBB+Positive07/26/2019
S&P Global RatingsBBB+Positive03/21/2019
Fitch RatingsA-Positive01/23/2019
Fitch RatingsA-Positive09/27/2018
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 RatingsMoody’sA.M. Best
Investment categoryAAAAAAAaaaaa


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

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
Nominal value€1 billion€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