Press Release - OCTOBER 08, 2019
AM Best Assigns Issue Credit Rating to Protective Life Corporation’s Senior Unsecured Notes
FOR IMMEDIATE RELEASE
OLDWICK - OCTOBER 08, 2019
Following the senior unsecured notes issue, financial leverage and coverage measures will remain supportive of the assigned ratings. The issuer intends to use the net proceeds of the offering for general corporate purposes, including the repayment at maturity of $400 million aggregate principal amount of 7.375% senior unsecured notes on Oct. 15, 2019.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
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