Moody's rates Aflac notes A3

Moody's Investors Service said it assigned an A3 debt rating with a stable outlook to Aflac, Inc.'s $250 million 2.65% fixed rate senior unsecured notes due 2017.

According to Moody's, the debt offering is a re-opening of the $400 million of 2.65% senior notes issued in February and a drawdown from a shelf registration filed in May.

"The modest additional debt issuance will have minimal impact on Aflac's strong financial flexibility. Pro forma adjusted financial leverage will increase slightly to 25.5% from 23.9% at year-end 2011, with shareholders' equity benefitting from the strong earnings in the first half of this year," said Moody's assistant vice president Shachar Gonen in a news release.

Going forward, the agency said it anticipates that the company will maintain adjusted financial leverage between 25% and 30%.

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