This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
A.M. Best Co. has assigned a debt rating of “bbb+” to the newly issued $450 million 5.50% subordinated debentures due 2052 of
Aflac Incorporated (Aflac) (Columbus, GA) [NYSE: AFL]. Additionally, there is a green shoe provision for Aflac to issue $67.5 million or 15% of the original deal size. The assigned outlook is stable. The financial strength, issuer credit and existing debt ratings of Aflac and its life/health companies are unchanged.
The assigned debt rating reflects the debentures’ subordinated status within Aflac’s capital structure. Specifically, these securities will rank junior to Aflac’s existing and future senior indebtedness and do not restrict the company’s ability to incur additional debt that ranks senior to the debentures.