S&P rates Aflac notes A-

S&P said it assigned its A- issue-level rating to Aflac Inc.'s proposed issuance of dollar-denominated senior notes in various tenors. These notes will be unsecured and unsubordinated obligations of Aflac and will rank equal in right of payment with its other senior unsecured debt obligations.

Aflac plans to use the proceeds for general corporate purposes.

“After this issuance, we expect financial leverage and fixed-charge coverage to remain within our expectations of less than 25% and greater than 12x, respectively,” said S&P in a press release.

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