AM Best Assigns Issue Credit Rating to MetLife, Inc.’s New Subordinated Debentures

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating of “bbb+” (Good) to the newly issued $1 billion, 5.85% subordinated debentures, due March 15, 2056, issued by MetLife, Inc. (MetLife) (headquartered in New York, NY) [NYSE: MET]. The outlook assigned to this Credit Rating (rating) is stable. All other ratings of MetLife and its subsidiaries remain unchanged.

The proceeds from this debt issuance are expected to be used to cover general business purposes. MetLife’s proforma adjusted financial leverage and the historical interest coverage are in line with its current ratings, and its holding company liquidity is strong.

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