Fitch gives Brighthouse notes BBB

Fitch Ratings said it assigned BBB ratings to $500 million of senior notes issued by Brighthouse Financial, Inc.

The rating for the notes is equivalent to that on Brighthouse's existing senior notes, Fitch said.

Proceeds will be used to repay borrowings under a term loan facility.

“As a result, Fitch expects no change in financial leverage. Fixed-charge coverage may decline slightly but is offset by greater permanence in the capital structure,” said Fitch in a press release.

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