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

OLDWICK, N.J.–(BUSINESS WIRE)–#insurance—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.

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 Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

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