International ratings agency Standard & Poor's (S&P) has assigned its A1-plus short-term debt rating to Allianz Finance Corporation's commercial paper programme.
The proceeds of the issue will be used by the Allianz group as working capital in the US and in Europe.
The programme is authorised to a limit of $5bn (£3.4bn) and is guaranteed by Munich-based Allianz (AA-plus), the parent company of Allianz Finance Corporation.
S&P said the ratings on the debt, and on Allianz, reflected the group's "extremely strong business position in Europe and other markets, and its extremely strong capitalization".
It added that those factors were partially offset by Allianz's aggressive use of capital and its operating performance, which had been strong, although not consistent with the very high rating category.
