A.M. Best Assigns Rating to Manulife's Preferred Shares.OLDWICK, N.J. -- A.M. Best Co. has assigned a debt rating of "a" to Manulife Financial Manulife Financial (NYSE: MFC, TSX: MFC, SEHK: 945, PSE: MFC), also known as The Manufacturers Life Insurance Company, is a major Canadian insurance company and financial services provider. Corporation's (Manulife) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :MFC (Microsoft Foundation Class) An application framework for writing Microsoft C/C++ and Visual C++ applications. See application framework. MFC - Microsoft Foundation Class ) (NYSE NYSE See: New York Stock Exchange :MFC) (Toronto) issuance of CAD 300 million 4.50% non-cumulative preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. . The preferred shares have been issued under a prospectus supplement to Manulife's short form base shelf dated February 9, 2005. The rating outlook is stable. The rating reflects Manulife's established presence in multiple markets, robust profitability from its geographically diversified businesses, conservative reserving practices and superior capitalization. Manulife maintains a strong franchise as a top provider of financial protection products and wealth management services in Canada, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Asia. A.M. Best believes the consistent flow of earnings from Manulife's core businesses is sustainable and provides ample liquidity to strongly support its long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. service capabilities. Manulife's operational and geographic diversification, as well as its solid positions in numerous markets, have somewhat insulated it from wide fluctuations in revenues and earnings. Manulife Financial Corporation is a leading Canadian-based financial services group operating in 19 countries and territories worldwide. As of September 30, 2005, Manulife Financial Corporation reported funds under management of CAD 359.9 billion. The following debt rating has been assigned: Manulife Financial Corporation-- --"a" on CAD 300 million 4.50% non-cumulative preferred shares For Best's Debt Ratings, all other Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. For current Best's Ratings, independent data and analysis on more than 1,100 individual life/health companies and A.M. Best groups, please visit www.ambest.com/lh. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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