A.M. Best Assigns Ratings to Manulife Finance (Delaware), L.P.'s Debt Offerings.OLDWICK, N.J. -- A.M. Best Co. has assigned debt ratings of "aa-" to CAD 550 million 4.448% fixed/floating senior unsecured debentures, due 2026 and "a+" to CAD 650 million 5.059% fixed/floating subordinated unsecured debentures, due 2041 of Manulife Finance (Delaware), L.P. (MFLP MFLP Music for Little People ) (Wilmington, DE). These notes are fully and unconditionally guaranteed Unconditionally Guaranteed is the eighth LP by Captain Beefheart & the Magic Band, originally released in 1974. Upon release it was criticised for being too commercial, however it failed to give Beefheart any real chart success and peaked at #192 on the Billboard on a senior and subordinated basis, respectively, by 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 (Manulife) (Toronto) [TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension , NYSE NYSE See: New York Stock Exchange : MFC (Microsoft Foundation Class) An application framework for writing Microsoft C/C++ and Visual C++ applications. See application framework. MFC - Microsoft Foundation Class ]. The outlook for the ratings is stable. These securities have not been registered in the United States. Proceeds from these issuances will be used for general corporate purposes for direct and indirect subsidiaries of Manulife. Leverage remains within guidelines for the current ratings. The ratings reflect the consolidated financial strength and operating performance of Manulife and the subsidiaries within the Manulife Financial Group, its established presence in multiple markets, increasing 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 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, as well as guarantee full support to MFLP's debt. Manulife's operational and geographic diversification, as well as its solid position in numerous markets, have somewhat insulated it from wide fluctuations in revenues and earnings. The following debt ratings have been assigned: Manulife Finance (Delaware), L.P.-- * "aa-" on CAD 550 million 4.448% senior unsecured debentures, due 2026 * "a+" on CAD 650 million 5.059% subordinated unsecured debentures, due 2041 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. 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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