S&P rates Manulife Financial notes A

S&P said it assigned its A debt rating to Manulife Financial Corp.'s 40-year U.S. dollar-denominated senior notes issued in Taiwan.

Manulife is expected to use the proceeds to finance potential debt redemptions and for general corporate purposes.

“MFC's financial leverage and fixed-charge coverage remain well within expectations for the rating. MFC has been reducing leverage for the past few years and, while we expect a brief spike in financial leverage, it will remain less than 30%,” S&P said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.