Moody's rates Principal Financial notes A3

Moody's Investors Service said it assigned an A3 senior debt rating with a stable outlook to the $300 million of 10-year senior notes and the $300 million of 30-year senior notes issued by Principal Financial Group, Inc. under a previously filed SEC shelf registration.

Principal Financial intends to use the proceeds from the notes for general corporate purposes and for potential acquisitions.

Moody's said it expects a portion of the proceeds to be used for partial repayment of the $400 million of notes maturing in 2014.

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