AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of 'bbb+' (Good) to the
The outlook assigned to the Credit Rating (rating) is stable.
At the time of issuance of the capital notes, MFC will issue
The notes will be treated as Tier 1 capital. Additionally, the proceeds will be used for corporate purposes, including investment in subsidiaries and potential future redemptions of existing securities. MFC's leverage and interest coverage ratios are expected to remain within AM Best's guidelines for its current rating.
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 use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
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