S&P assigns Security Benefit notes A-

S&P said it assigned its A- debt rating to Security Benefit Global Funding's planned offering.

Security Benefit Global Funding is a statutory trust, and its primary assets will be the funding agreements issued by Security Benefit Life Insurance Co. These notes will be the first issuance under a $2 billion program by Security Benefit Global Funding.

“The notes are backed by Security Benefit-issued funding agreements held by Security Benefit Global Funding and have payment terms that are equivalent to those of the funding agreement. The funding agreement is ranked pari passu with policyholder obligations and, therefore, our ratings on the notes reflect Security Benefit's financial strength rating of A-,” S&P said in a press release.

© 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.