This Day On The Street
Continue to site
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 Assigns Debt Rating To New Senior Notes Of ING U.S., Inc.

A.M. Best Co. has assigned a debt rating of “bbb” to the recent issuance of $1.0 billion 2.90% five-year senior unsecured notes of ING U.S., Inc. (ING U.S.) (headquartered in New York, NY). ING U.S. is currently the holding company for the U.S. operations of ING Groep N.V. (ING Group) (Netherlands) (NYSE: ING). The assigned outlook is stable.

The rating recognizes ING U.S.’ strong market position in the life insurance and retirement markets, profitable operating results and sound level of risk-adjusted capital. Although historically supported by its European parent, A.M. Best notes that ING Group has filed with the SEC for an initial public offering (IPO) of its U.S.-based retirement, insurance and investment operations during 2013.

The assigned rating also reflects A.M. Best’s expected completion of this process, which will demonstrate ING U.S.’ ability to successfully execute its capital plans. The new senior notes, together with the $850 million 5.5% 10-year notes issued in July 2012 and proceeds from the anticipated IPO, should facilitate ING U.S. achieving its targeted independent capital structure. As such, ING U.S.’ financial leverage and interest coverage are expected to fall within A.M. Best’s guidelines for its current ratings. The proceeds from the new senior notes will be used for general corporate purposes, including the repayment of outstanding borrowings.

Partially offsetting these positive rating factors is ING U.S.’ ongoing exposure to both equity markets and interest rates through product guarantees, spread compression as well as its material holdings of below investment grade structured securities and commercial mortgage loans. Additionally, the inherent uncertainty surrounding the timing and execution of the IPO process could negatively affect the group’s business profile with respect to products, customers, distribution and market positions, in addition to having an unfavorable effect on leverage and interest coverage metrics.

The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at

Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit

Copyright © 2013 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,812.19 +19.51 0.11%
S&P 500 2,089.14 +2.55 0.12%
NASDAQ 5,102.8080 +0.33 0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs