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Media release
Group News

Comment on Standard & Poor's rating action

As a result of the announcement that Helvetia has agreed to takeover Nationale Suisse, Standard & Poor's has confirmed Helvetia's «A»rating but put the company on «Credit watch with negative implications».
This occurs frequently in such takeover situations due to the integration risks, the impact of an acquisition on the acquiror's capital position and the inherent uncertainties surrounding refinancing in capital markets.

Helvetia is confident that all these risks will be minimized and will be resolved to Standard & Poor's satisfaction. This action is not expected to have any effect on our ability to refinance the transaction in the capital markets.

In what we consider to be the very unlikely case of a downgrade from Standard & Poors, the lowering of the rating expected to be limited to one notch. Consequently the rating is expected, as we communicated in our press and analysts' conference on 7 July 2014, to be maintained in the overall «A»range.

This media release is also available on the home page www.helvetia.com/media.

Contact information
Helvetia Group
Susanne Tengler
Director Investor Relations
Dufourstrasse 40
CH-9001 St.Gallen

Phone: +41 58 280 57 79
Fax: +41 58 280 55 89
Helvetia Group
Martin Nellen
Head Corporate Communications
and Brand Management
Dufourstrasse 40
CH-9001 St.Gallen

Phone: +41 58 280 56 88
Fax: +41 58 280 55 89