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Fitch rates Aflac notes A-
Fitch Ratings said it assigned an A- rating to Aflac Inc.'s recently announced $700 million senior notes issuance.
Fitch also said it affirmed Aflac's issuer default rating at A, along with the AA- insurance financial strength ratings on its insurance subsidiaries.
The outlook is stable.
The proceeds will be used to prefund one or more of the maturities including ¥28.7 billion samurai notes due July 2014, ¥5.5 billion samurai notes due July 2014 and $300 million senior notes due August 2015.
Despite an increase in leverage due to the new issuance, Aflac's leverage ratios remain within expectations, Fitch said.
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