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Assessment of the ability and willingness of debtors to meet their financial obligations.

The following ratings have been awarded to the notes and debentures issued by our Group:

Credit ratings

A.M. Best Fitch Moody's S&P
Münchener Rückversicherungs-Gesellschaft AG, 3.25%, 1,250m €, Subordinated Bond 2018/2049 A  A2 (hyb)
Münchener Rückversicherungs-Gesellschaft AG, 6.25%, € 900m, Subordinated Bond 2012/2042 a+ A A
Münchener Rückversicherungs-Gesellschaft AG, 6.625%, £ 450m, Subordinated Bond 2012/2042 a+ A A
Münchener Rückversicherungs-Gesellschaft AG, 6.00%, € 1,000m, Subordinated Bond 2011/2041 a+ A A
Munich Re America Corporation, 7.45%, US$ 342m, Senior Notes 1996/2026 a A+ A2 A-
Detailed information on the rating of individual Munich Re Group companies as well as general rating categories can be found on the websites of the rating agencies:
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