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Stock impact report

AM Best Assigns Issue Credit Rating to Brighthouse Financial, Inc.’s New Preferred Stock

Brighthouse Financial, Inc. (BHF) 
Last brighthouse financial, inc. earnings: 2/10 04:16 pm Check Earnings Report
Company Research Source: Business Wire
OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb-” to the $425 million 6.6% non-cumulative preferred stock, Series A recently issued by Brighthouse Financial, Inc. (Brighthouse) (headquartered in Charlotte, NC) [NASDAQ: BHF]. The outlook assigned to this Credit Rating (rating) is stable. Brighthouse’s adjusted financial leverage is just below its target level of 25% and well within AM Best guidelines for its current rating. Following the preferred stock issuance, financial leverage will remain within guidelines for the assigned rating. While operating results have been somewhat volatile in recent periods due to establishment costs, and some fluctuations in expenses associated with its spin-off from MetLife, Inc., AM Best expects interest coverage to remain in the mid-single digits over the near-term. Brighthouse intends to contribute the net pro Show less Read more
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