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Best’s News & Research Service - June 20, 2024 09:38 AM (EDT)

AM Best Assigns Issue Credit Rating to MetLife, Inc.’s New Senior Unsecured Notes

  • June 20, 2024 09:38 AM (EDT)
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//BestWire// - AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to the newly issued $500 million, 5.300% senior unsecured notes due Dec. 15, 2034, issued by MetLife, Inc. (MetLife) (headquartered in New York, NY) [NYSE: MET]. The outlook assigned to this Credit Rating (rating) is stable. All other ratings of MetLife and its subsidiaries remain unchanged.

The proceeds from this debt issuance are expected to be used for general corporate purposes, which may include the redemption, repurchase or repayment at maturity in whole or in part of MetLife’s senior notes due 2025. 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.

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. 

New York United States Life Insurers Press Release Issue Credit Rating Best's Credit Rating Action

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