S&P rates American Equity converts BB+

Standard & Poor's said it assigned its BB+ senior debt rating to American Equity Investment Life Holding Co.'s proposed $175 million senior, unsecured convertible debt issue, which is due in 2024.

The proceeds of the issuance will support American Equity's insurance operating company growth.

S&P said the rating reflects the company's better risk management, the senior team's enhanced capabilities, well-managed growth without damaging the relationship with its distribution force, improving earnings and interest coverage, improved capital at the operating companies and strong liquidity.

© 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.