AM Best Assigns Issue Credit Rating to MetLife, Inc.’s New Senior Unsecured Notes

OLDWICK, N.J.--(BUSINESS WIRE)--
AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to the newly issued $1 billion, 5% senior unsecured notes due July 15, 2052, issued by MetLife, Inc. (MetLife) (headquartered in New York, NY) [NYSE: MET]. The outlook assigned to this Credit Rating (rating) is stable.

The proceeds from the issuance are intended for the retirement of MetLife’s outstanding indebtedness, which may include the redemption, repurchase or repayment at maturity of a portion of MetLife’s $1 billion, 4.368% senior unsecured debentures, due 2023, and for general corporate 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.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Louis Silvers
Senior Financial Analyst

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Christopher Sharkey
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Jacqalene Lentz

Director

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Jeff Mango
Managing Director,

Strategy Communications

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Source: AM Best