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S&P rates Corebridge notes BBB+
S&P said it rated Corebridge Financial Inc.’s planned fixed-rate senior notes BBB+.
Corebridge is separating from American International Group. The agency assigned it a BBB+ issuer rating on Tuesday.
The company plans to use the proceeds and borrowings from its three-year delayed-draw term loan and, if needed, borrowings under its 18-month delayed-draw term loan, to repay the $8.3 billion promissory note previously issued by Corebridge to AIG.
The outlook is stable.
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