OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned an indicative Long-Term Issue Credit Rating of “a” to the forthcoming new senior unsecured notes to be issued by Pacific LifeCorp (Wilmington, DE). The outlook assigned to this Credit Rating (rating) is stable. The existing ratings of Pacific LifeCorp and its subsidiaries are unchanged.
Pacific LifeCorp intends to use the proceeds for general corporate purposes, and to strengthen financial flexibility. AM Best notes that proforma financial leverage and interest coverage metrics are expected to remain at appropriate levels.
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