Fitch gives Principal notes A-

Fitch Ratings said it assigned a senior unsecured, long-term debt rating of A- to Principal Financial Group, Inc.’s new issuance of notes maturing in June 2030. A complete list of ratings follows at the end of this release. The notes will be guaranteed by the intermediate holding company Principal Financial Services, Inc., which Fitch rates at A.

The ratings assigned to the new notes are equivalent to the ratings assigned to PFG’s senior unsecured debt, and reflect standard notching based on Fitch’s rating criteria, the agency said.

The proceeds will be used for general corporate purposes.

Principal and all other related ratings are unaffected by this rating action, Fitch said.

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