Moody’s assigns Corebridge notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to Corebridge Financial, Inc.'s anticipated sale of around $500 million of 10-year senior unsecured debt.

The rating is the same as Moody’s ratings on Corebridge’s outstanding senior unsecured notes.

The proceeds will used to pay down the balance currently drawn under its delayed-draw term loan maturing in 2025. “As a result, the issuance is not expected to affect leverage,” Moody’s said in a press release.

The outlook on Corebridge and its insurance subsidiaries is unchanged at stable.

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