Fitch rates Great-West Lifeco notes A

Fitch Ratings said it assigned an A rating to Great-West Lifeco Inc.’s C$600 million of 2.379% senior debentures maturing May 14, 2030.

The rating for the new notes is equivalent to the rating on Great-West’s senior debt, Fitch said.

Proceeds will be used to repay upcoming long-term debt maturities and for general corporate purposes.

“Pro forma for the issuance and upcoming debt maturity, financial leverage will remain in line with rating expectations,” Fitch said in a press release.

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