CONTACTS:
FOR IMMEDIATE RELEASE
OLDWICK - SEPTEMBER 16, 2016 11:44 AM (EDT)
A.M. Best has assigned the Long-Term Issue Credit Rating of “bbb+” to the recently announced CAD 1 billion 3.05% Series 2016-2 subordinated unsecured fixed floating rate debentures due 2028 of Sun Life Financial Inc. (SLF) (Toronto, Ontario, Canada). The outlook assigned to this Credit Rating (rating) is stable, which is consistent with the outlook for the existing ratings of SLF.
SLF intends to use the net proceeds from the sale of the subordinated debentures for general corporate purposes of SLF, which may include investments in subsidiaries and repayment of indebtedness (as described in a press release issued by SLF, dated Sept. 13, 2016).
This press release relates to Credit Ratings that have been published on A.M. 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 A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings.
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