S&P gives BBB- to Americo Life notes

S&P said it assigned its BBB- issuer credit rating to Americo Life Inc. The outlook is stable.

At the same time, S&P assigned a BBB- issue rating to Americo Life's proposed senior notes.

Americo Life Inc. joins a growing list of U.S. insurers tapping the debt markets. The company is issuing $300 million of senior notes maturing 2031, S&P said.

Americo is a wholly owned subsidiary of Financial Holding Corp., a privately owned corporation.

“The stable outlook reflects our expectation that the group will manage its business growth prudently while maintaining excellent capital adequacy and stable earnings,” S&P said in a news release.

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