S&P gives Principal notes A-

S&P said it assigned a rating of A- to Principal Financial Group’s proposed offering of 10-year senior notes.

Principal will use the proceeds for general corporate purposes.

“The company doesn't have any senior note maturities until 2022. After this issuance, we expect financial leverage to increase closer to 25% for 2020 versus 23% at year-end 2019, but still remain within our expectation for the ratings,” S&P said in a press release.

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