Moody's rates Ohio National Life notes A3 hybrid

Moody's Investors Service said it assigned an A3 hybrid debt rating, with a negative outlook, to the $250 million of 30-year fixed rate surplus notes to be issued by the Ohio National Life Insurance Co., the lead insurance operating company of Ohio National Financial Services, Inc.

Moody's said the rating and outlook reflect the standard two-notch difference between an operating company's insurance financial strength rating and its surplus note rating, because of the subordination of surplus notes to policyholder and senior creditor claims.

© 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.