Moody’s gives TruStage notes Baa2

Moody's Investors Service said it gave a Baa2 rating to the $600 million of fixed-rate senior notes being issued by TruStage Financial Group, Inc. The outlook for TruStage remains unchanged at stable.

“The Baa2 debt rating and stable outlook are based on TruStage's position as a leading provider of insurance and financial services to U.S. credit unions, their employees and members as well as its diversified distribution channels including a proprietary platform,” Moody’s said in a press release.

The company is expected to use the proceeds to repay up to $600 million of borrowings under its 2022 term loan, which it used with the Assurant preneed acquisition and for general corporate purposes.

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