Best’s News & Research Service - December 04, 2024 02:16 PM (EST)
AM Best Withdraws Issue Credit Ratings for American Equity Investment Life Holding Company
- December 04, 2024 02:16 PM (EST)
//BestWire// - AM Best has withdrawn the Long-Term Issue Credit Ratings (Long-Term IRs) of “bbb-” (Good) on $500 million, 5% senior unsecured notes, due 2027; “bb” (Fair) on $300 million, 6.625% perpetual, non-cumulative preferred stock; and “bb” (Fair) on $400 million, 5.95% perpetual, non-cumulative preferred stock of American Equity Investment Life Holding Company (AEL) (Iowa), as the company has requested to no longer participate in AM Best’s interactive rating process.
At the time of the withdrawal, the Long-Term IRs were under review with developing implications. AM Best maintained the under-review status on these Long-Term IRs on Nov. 27, 2024 (see related press release). This serves as AM Best’s final rating update for AEL.
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.