AM Best Assigns Issue Credit Rating to Principal Financial Group, Inc.’s New Senior Secured Notes
Principal intends to use the proceeds for general corporate purposes, to take advantage of attractive market conditions and to strengthen financial flexibility. AM Best notes that proforma financial leverage and interest coverage metrics remain at appropriate levels.
The ratings of Principal’s Long-Term Issuer Credit Rating (Long-Term ICR), its existing Long-Term IRs and the Long-Term ICRs of its operating insurance subsidiaries were upgraded with a stable outlook on
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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in
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Source: AM Best
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