Moody's rates Guardian Life notes A1

Moody's Investors Service said it assigned an A1 debt rating to Guardian Life Insurance Co. of America's up to $400 million fixed-rate surplus notes due 2039.

The outlook is stable.

Proceeds will be used for general corporate purposes.

"The surplus notes will increase Guardian's already strong statutory surplus (year-end 2008 NAIC RBC at 447%), help to fund organic business growth, and act as a buffer to absorb any potential investment losses," Moody's vice president Ann Perry said in a statement.

© 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.