Fitch rates Athene preferred shares BBB-

Fitch Ratings said it assigned a rating of BBB- to Athene Holding Ltd.’s $300 million 5.625% non-cumulative series B perpetual preferred shares.

The rating is two notches below Athene’s because of poor recovery prospects, Fitch said.

Proceeds are expected to be used for general corporate purposes.

Existing ratings assigned to Athene and its affiliates are unaffected by this rating action.

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