OLDWICK, N.J.--(BUSINESS WIRE)--Headline of release should read: A.M. Best Assigns Indicative Ratings to Lincoln National Corporation’s New Shelf Registration (instead of A.M. Best Assigns Indicative Ratings to Lincoln Nation Corporation’s New Shelf Registration).
The corrected release reads:
A.M. BEST ASSIGNS INDICATIVE RATINGS TO LINCOLN NATIONAL CORPORATION’S NEW SHELF REGISTRATION
A.M. Best has assigned indicative ratings of “a-” to senior unsecured debt, “bbb+” to subordinated debt and “bbb” to junior subordinated debt and preferred stock of Lincoln National Corporation’s (Lincoln) (Fort Wayne, IN) [NYSE:LNC] recently filed universal shelf registration statement. The outlook assigned to these ratings is stable. Concurrently, A.M. Best has withdrawn the debt ratings on the previous shelf registration, which expired. All existing ratings for Lincoln and its subsidiaries are unchanged.
The proceeds from any future offerings made under the shelf registration are anticipated to be used for general corporate purposes, which could include the repayment of debt, business expansion or the repurchase of common stock.
The indicative ratings are based on Lincoln’s leading market position within its core business segments and favorable statutory and U.S. GAAP operating performance with diversified sources of earnings. Financial leverage and interest coverage ratios at the holding company remain within A.M. Best’s guidelines for the current ratings.
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
Key insurance criteria reports utilized:
- Analyzing Insurance Holding Company Liquidity
- Insurance Holding Company and Debt Ratings
- Rating Members of Insurance Groups
This press release relates to rating(s) that have been published on A.M. 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 visit A.M. Best’s Ratings & Criteria Center.
A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
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