Moody’s rates Equitable’s preferreds Ba1

Moody’s Investors Service said it assigned a Ba1(hyb) rating to Equitable Holdings, Inc.’s anticipated issuance of up to $500 million of series B non-cumulative preferred stock.

Proceeds will be used for general corporate purposes.

The Ba1(hyb) rating reflects Moody’s typical notching for instruments issued by insurers relative to their insurance financial strength and senior debt ratings, the agency said.

The outlook on Equitable and its insurance subsidiaries remains stable.

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