S&P rates MetLife

Standard & Poor's said it assigned its A senior debt rating to MetLife Inc.'s combined $600 million senior unsecured note issuance split into two separate notes: a $200 million 10-year note due in June 2014 and a $400 million 30-year note due in June 2034.

The proceeds of the notes will be used to repay a portion of the 3.911% senior debentures due May 15, 2005, and the balance will be used for general corporate expenses.

"The rating reflects the group's very strong competitive position, strong diversified earnings sources, high-quality investment portfolio, very strong capitalization, and very strong financial flexibility," said S&P credit analyst Kevin Ahern.

Partially offsetting these strengths are the challenges associated with improving the operating performance of the individual life insurance segment amid adjusting to senior management changes, further integrating distribution systems, and increasing agent productivity.

© 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.