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S&P rates Global Atlantic notes BB
S&P said it assigned a BB rating to Global Atlantic Financial Group's fixed-to-fixed reset rate junior subordinated debentures.
“The issue rating is two notches below our BBB- long-term issuer credit rating on Global Atlantic (Fin) Co. based on the subordination of the issue and the optional interest deferability. The debentures are fully guaranteed by Global Atlantic Financial Ltd. (GAFG),” S&P said in a press release.
GAFG may use the proceeds to retire its junior subordinated debenture that is callable in October and for general corporate purposes.
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