Fitch gives Genworth notes A

Fitch Ratings said it assigned an A rating to Genworth Financial, Inc.'s $600 million issue of 6.515% senior notes due 2018 and has affirmed the holding company ratings on Genworth, including the A+ issuer default rating.

The outlook is stable.

Fitch added that the proceeds of the notes will be used for general corporate purposes, noting that Genworth's pro forma equity-credited adjusted leverage of 23.1% at March 31, compared to ratings expectations of less than 25%.

Affirmed ratings include the following: Genworth's long-term issuer default rating at A+, senior notes due May 16, 2009 at A, senior notes due June 15, 2009 at A, senior Yen notes June 20, 2011 at A, senior notes due June 15, 2012 at A, senior notes due June 15, 2014 at A, senior notes due Oct. 1, 2015 at A, senior notes due June 15, 2034 at A, series A cumulative preferred stock at A-, enhanced junior subordinated notes at A- and commercial paper at F1.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.