S&P rates Mutual of Omaha notes A+

S&P said it assigned an A+ debt rating to Mutual of Omaha Cos. Global Funding's planned issuance of $400 million of three-year notes. The issuer is a special purpose statutory trust and this offering is the first under its $5 billion program.

The trust’s primary assets are funding agreements issued by United of Omaha Life Insurance Co.

“The funding agreements will rank pari passu with policyholder obligations, and therefore our ratings on the notes reflect our assessment of United of Omaha's financial strength,” S&P said in a press release.

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