Best’s News & Research Service - September 21, 2020 10:10 AM (EDT)
AM Best Assigns Issue Credit Rating to OneAmerica Financial Partners, Inc.’s Senior Unsecured Notes
- September 21, 2020 10:10 AM (EDT)
Oldwick //BestWire// - AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “a-” to the $400 million 4.25% senior unsecured notes, due Oct. 15, 2050, issued by OneAmerica Financial Partners, Inc. (OneAmerica). The outlook assigned to this Credit Rating (rating) is stable, which is in line with the outlook of OneAmerica’s Long-Term Issuer Credit Rating. The existing ratings of OneAmerica and its subsidiaries are unchanged.
This release relates to the previously assigned indicative Long-Term IR of this note. OneAmerica intends to use the proceeds of this issue for general corporate purposes. AM Best expects OneAmerica’s financial leverage to increase and remain within appropriate target levels for the current rating level. AM Best will continue to monitor OneAmerica’s interest coverage and leverage ratios.
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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.