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FOR IMMEDIATE RELEASE
OLDWICK - JUNE 20, 2024 09:37 AM (EDT)
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.
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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 London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.