AM Best Assigns Issue Credit Rating to Reinsurance Group of America, Incorporated’s Senior Unsecured Notes
Reinsurance Group of America, Incorporated (RGA)
Last reinsurance group of america, incorporated earnings: 1/28 04:15 pm
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Company Research
Source: Business Wire
OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating of “a-” to the $600 million 3.15% senior unsecured notes due June 15, 2030, issued by Reinsurance Group of America, Incorporated (RGA) (Chesterfield, MO) [NYSE: RGA]. The outlook assigned to this Credit Rating (rating) is stable.Proceeds from the sale of the senior notes will be utilized primarily for general corporate purposes, including repayment of the $400 million 5.00% senior unsecured notes due June 2021. AM Best notes that RGA’s financial leverage will remain at approximately 27%, as the recent $500 million common stock issuance has largely offset the increase in overall debt within the organization. AM Best views RGA’s debt-servicing capabilities favorably, with sufficient liquidity to service its debt, a well-laddered debt maturity structure and strong interest coverage and financial leverage ratios that remain within AM Best’s guidelines for its current ratings.RGA’s ratings recognize it
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- Reinsurance Group of America, Incorporated (NYSE: RGA) had its price target raised by analysts at Morgan Stanley from $178.00 to $185.00. They now have an "equal weight" rating on the stock.MarketBeat
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- Reinsurance Group of America, Incorporated (NYSE: RGA) had its "outperform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $212.00 price target on the stock.MarketBeat
RGA
Earnings
- 2/1/24 - Beat
RGA
Sec Filings
- 4/11/24 - Form ARS
- 4/11/24 - Form DEF
- 4/8/24 - Form 3
- RGA's page on the SEC website