Insurance Giant MetLife’s Credit Rating Stays Excellent

  • AM Best affirms MetLife’s senior unsecured notes ratings
  • MetLife’s proforma adjusted financial leverage is in line with current ratings
  • Strong holding company liquidity

Credit rating agency AM Best has affirmed the Long-Term Issue Credit Rating of ‘a-‘ (Excellent) on the $750 million, 5.3% senior unsecured notes due December 2034 of MetLife, Inc., headquartered in New York City. The outlook for this rating is stable and applies to the recently issued $250 million, 5.3% senior unsecured notes due 2034 and its existing $500 million, 5.3% senior unsecured notes due June 2024. These additional notes were priced at 104.611% of the principal amount plus accrued interest from June 5, 2024, with a yield to maturity of 4.714%. MetLife’s proforma adjusted financial leverage and historical interest coverage align with its current ratings, while its holding company liquidity is strong.

Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about the credit rating of MetLife’s notes and explains the terms and conditions clearly. It also includes relevant details about AM Best, a reputable credit rating agency. There is no sensationalism, redundancy, or personal perspective presented as fact.
Noise Level: 8
Noise Justification: The article is mostly focused on financial information about MetLife’s bond ratings and does not provide any actionable insights or new knowledge for the general reader. It also lacks analysis of long-term trends or possibilities, and does not explore consequences of decisions on those who bear the risks.
Public Companies: MetLife, Inc. (MET)
Key People:

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Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses the affirmation of MetLife’s Long-Term Issue Credit Rating and the issuance of additional senior unsecured notes. This pertains to financial topics, specifically related to the insurance industry and credit ratings, but does not mention any direct impact on financial markets or companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
Deal Size: 750000000
Move Size: No market move size mentioned.
Sector: All
Direction: Neutral
Magnitude: No
Affected Instruments: Bonds

Reported publicly: www.businesswire.com