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A.M. Best Co. has assigned a debt rating of “a-” to the recently issued $1 billion, 4.875% senior unsecured notes due November 13, 2043 of
MetLife, Inc. (MetLife) (New York, NY)(NYSE:MET). The outlook assigned is stable.
The proceeds from the debt offering will be utilized for general corporate purposes, which may include the repayment in whole or in part of $1.350 billion of outstanding senior notes due in 2014 upon their maturities. A.M. Best notes that MetLife’s overall financial leverage is expected to remain below 30%, while interest coverage is expected to remain above five times. Both measures are within A.M. Best’s guidelines for MetLife’s current rating level.