S&P: Swiss Life notes BBB+

Standard & Poor’s said it assigned a BBB+ long-term issue rating to new junior subordinated deferrable notes issued by Swiss Life AG.

The rating on the notes is two notches below the long-term counterparty credit rating on Swiss Life, reflecting a standard notching for junior subordinated debt issues, S&P said.

The notes will be guaranteed by the holding company, Swiss Life Holding AG, the agency said.

The rating on the notes also considers an understanding that the notes are subordinated to debt held by senior creditors and to Swiss Life’s policyholder obligations, S&P said.

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