Best’s News & Research Service - March 14, 2024 12:03 PM (EDT)
AM Best Assigns Issue Credit Ratings to MetLife, Inc.’s New Senior Unsecured Notes
- March 14, 2024 12:03 PM (EDT)
//BestWire// - AM Best has assigned Long-Term Issue Credit Ratings (Long-Term IR) of “a-” (Excellent) to MetLife, Inc.’s (MetLife) (headquartered in New York, NY) [NYSE: MET] newly issued senior unsecured notes (see detailed list below). The outlook assigned to these Credit Ratings (rating) is stable. All other ratings of MetLife and its subsidiaries remain unchanged.
The proceeds from this debt issuance are expected to be used to cover upcoming debt maturities. MetLife’s proforma adjusted financial leverage and the historical interest coverage are in line with its current ratings, and its holding company liquidity is strong.
The Long-Term IRs of “a-” (Excellent) have been assigned with a stable outlook to the following senior unsecured notes:
- JPY 7.1 billion 1.009% due March 7, 2029
- JPY 23.1 billion 1.415% due March 7, 2031
- JPY 16.7 billion 1.67% due March 7, 2034
- JPY 11.2 billion 1.953% due March 7, 2039
- JPY 15.5 billion 2.195% due March 7, 2044
- JPY 23.5 billion 2.39% due March 6, 2054
- JPY 15.2 billion 2.448% due March 7, 2059
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 Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.