Fitch rates Aflac notes A-

Fitch Ratings said it assigned an A- rating to the senior unsecured notes issued by Aflac, Inc.

The A- rating is equivalent to the ratings on Aflac's outstanding senior unsecured notes, Fitch said.

The proceeds will be used to redeem all or a portion of its $650 million 2.65% senior notes due 2017.

The company intends to use the balance of the net proceeds for general corporate purposes, the agency said.

The ratings reflect the company's extremely strong competitive position in the supplemental accident and health insurance markets in Japan and the United States, extremely strong earnings profile and very strong capitalization, Fitch said.

The ratings also consider the impact of slow economic growth in Aflac's key Japanese market and its sizable exposure to Japanese sovereign risk, including significant investment concentration in Japanese government bonds, the agency said.

© 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.