S&P assigns F&G notes BBB-

S&P said it assigned a BBB- rating to F&G Annuities & Life Inc.'s planned issuance of senior unsecured notes.

“The rating on the proposed issuance is one notch lower than that on the company's existing senior unsecured debt (issued by Fidelity & Guaranty Life Holdings Inc, an intermediate holding company within the group), which was guaranteed unconditionally by its parent, Fidelity National Financial Inc. (FNF), upon the close of the June 2020 acquisition,” S&P said in a press release.

The proceeds are expected to be used for general corporate purposes, including contributing to its insurance subsidiary to support growth.

The outlook is stable.

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