S&P assigns Athene preferreds BBB-

S&P said it assigned its BBB- debt rating to Athene Holding Ltd.'s proposed issuance of fixed-rate perpetual noncumulative series D preferred shares.

“This preferred share rating is two notches below our BBB+ long-term issuer credit and senior debt ratings on ATH. The two notches represent the subordination of the issue and the optional dividend deferability of these preferred shares,” S&P said in a press release.

Athene plans to use the proceeds for general corporate purposes.

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