Historical Stock Chart
2 Months : From May 2019 to Jul 2019
AM Best has assigned the Long-Term Issue Credit Ratings
(Long-Term IR) of “a-” to five tranches of yen-denominated senior
unsecured notes totaling JPY 151.7 billion (USD 1.385 billion) recently
issued by MetLife, Inc. (MetLife) (headquartered in New York, NY) [NYSE:
MET]. The outlooks assigned to these Credit Ratings (rating) is stable.
See below for details on individual tranches.
Proceeds from the issuance may be utilized for repayment, in whole in
part, of senior notes maturing in 2020 and 2021, as well as for general
corporate purposes. AM Best notes that MetLife’s financial leverage is
expected to remain under 25% in the medium term. Additionally, MetLife’s
financial flexibility remains strong with interest coverage of six times.
MetLife’s ratings recognize its diverse business mix, generally
favorable operating results, strong franchise, considerable scale and
prominent market positions across several product lines. MetLife
continues to generate consistent revenue and cash flows, and has
reported growth in operating earnings across the majority of its core
segments. AM Best notes that MetLife’s earnings have benefited from
favorable underwriting results as well as higher net investment income
and asset-based fee revenues driven by favorable equity markets through
first quarter 2019.
AM Best has assigned the following Long-Term IRs with a stable outlook:
"a-" on JPY 25.2 billion, 0.495%, Senior Unsecured Notes, due 2026
"a-" on JPY 64.9 billion, 0.769%, Senior Unsecured Notes, due 2029
"a-" on JPY 10.7 billion, 0.898%, Senior Unsecured Notes, due 2031
"a-" on JPY 26.5 billion, 1.189%, Senior Unsecured Notes, due 2034
"a-" on JPY 24.4 billion, 1.385%, Senior Unsecured Notes, due 2039
This press release relates to Credit Ratings that have been published
on AM Best’s website. For all rating information relating to the release
and pertinent disclosures, including details of the office responsible
for issuing each of the individual ratings referenced in this release,
please see AM Best’s Recent
Rating Activity web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view Understanding
Best’s Credit Ratings. For information on the proper media
use of Best’s Credit Ratings and AM Best press releases, please view Guide
for Media - Proper Use of Best’s Credit Ratings and AM Best Rating
Action Press Releases.
AM Best is a global rating agency and information provider with a
unique focus on the insurance industry. Visit www.ambest.com
for more information.
Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190523005737/en/
Kate SteffanelliSenior Financial Analyst+1
908 439 2200, ext. firstname.lastname@example.org
Rosemarie MirabellaDirector+1 908 439 2200,
Christopher SharkeyManager, Public Relations+1
908 439 2200, ext. email@example.com
Jim PeavyDirector, Public Relations+1 908
439 2200, ext. firstname.lastname@example.org