Moody’s applies Baa2 to Voya notes

Moody's Investors Service said it assigned a Baa2 rating to the $800 million of senior notes expected to be issued by Voya Financial, Inc. (senior debt at Baa2, stable).

The notes, a drawdown off a shelf filed on June 18, 2014, will be fully, irrevocably, and unconditionally guaranteed by Voya Holding, Inc. (issuer rating at Baa2, stable), an intermediate holding company that directly owns most of Voya’s life insurance subsidiaries.

Without the Voya Holdings guarantee, the notes would be rated one notch lower.

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