Moody’s rates Global Atlantic subordinated notes Ba1

Moody’s Investors Service said it assigned a Baa3 long-term issuer rating to Global Atlantic (Fin) Co. with a stable outlook.

Moody’s also assigned a Ba1 (hyb) debt rating on the $250 million of subordinated notes issued by the company in 2016. The company is a wholly owned subsidiary of Global Atlantic Financial.

The Baa3 long-term issuer rating is three notches lower than the A3 insurance financial strength ratings of Global Atlantic’s primary life and annuity operating entities, which is consistent with how the agency rates simple U.S. insurance holding company structures, Moody’s said.

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