S&P rates Equitable notes A+

S&P said it assigned its A+ debt rating to Equitable Financial Life Global Funding's proposed issuance of up to $500 million of five-year notes.

EFLGF is a special-purpose statutory trust incorporated in Delaware, and its primary assets are the funding agreements issued by Equitable Financial Life Insurance Co.

The notes, which are the trust’s first issuance, are backed by the company’s funding agreements held by the trust. The notes have payment terms that are equivalent to those of the funding agreements. The funding agreements rank equally with policyholder obligations. Therefore, the ratings reflect the company’s financial strength, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.