S&P gives Athene preferred shares BBB-

S&P said it assigned a BBB- rating to Athene Holding Ltd.’s proposed offering of fixed-rate noncumulative perpetual series B 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,” said S&P in a news release.

Proceeds will be used for general corporate purposes.

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