DBRS assigns Manulife notes A

DBRS said it assigned a provisional rating of A (low) with a stable trend to Manulife Financial Corp.’s limited recourse capital notes.

DBRS assigned the rating equal to the company’s issuer rating of A (high) less two rating notches, consistent with DBRS’ notching approach for capital instruments issued by insurance holding companies. This rating is one notch below the rating of Manulife’s unsecured subordinated debentures, the agency said.

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