Best’s News & Research Service - September 10, 2020 05:57 PM (EDT)
AM Best Assigns Indicative Issue Credit Rating to Pacific LifeCorp’s Senior Unsecured Notes
- September 10, 2020 05:57 PM (EDT)
Oldwick //BestWire// - AM Best has assigned an indicative Long-Term Issue Credit Rating of “a” to the forthcoming new senior unsecured notes to be issued by Pacific LifeCorp (Wilmington, DE). The outlook assigned to this Credit Rating (rating) is stable. The existing ratings of Pacific LifeCorp and its subsidiaries are unchanged.
Pacific LifeCorp intends to use the proceeds for general corporate purposes, and to strengthen financial flexibility. AM Best notes that proforma financial leverage and interest coverage metrics are expected to remain at appropriate levels.
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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 New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.