OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “aa-” (Superior) to the $675 million 3.200% surplus notes due Dec. 1, 2061 that were recently issued by Massachusetts Mutual Life Insurance Company (MassMutual) (Springfield, MA). The outlook assigned to this Credit Rating (rating) is stable. All other Long-Term IRs of MassMutual and its subsidiaries are unchanged.
MassMutual’s financial leverage and interest coverage ratios are within AM Best’s guidelines for its ratings. The proceeds of the surplus notes will be used for general corporate purposes.
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