AM Best Assigns Issue Credit Rating to Athene Holding Ltd.’s New Senior Unsecured Notes

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Apr 03, 2020 12:35 pm
OLDWICK, N.J. -- 

AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb” to the recently issued $500 million 6.150% senior unsecured notes due 2030 for Athene Holding Ltd. (Athene) (Bermuda) [NYSE:ATH]. The outlook assigned to this Credit Rating (rating) is positive. The existing ratings of Athene and its insurance subsidiaries remain unchanged.

Athene intends to use the net proceeds from the issuance for general corporate purposes, including support of investment opportunities, organic and inorganic growth, and its commitment to Athene Co-Invest Reinsurance Affiliate (ACRA). AM Best notes that proforma financial leverage and interest cover metrics remain within guidelines for the current ratings.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Keith Behrmann
Senior Financial Analyst
+1 908 439 2200, ext. 5733
[email protected]

Edward Kohlberg
Director
+1 908 439 2200, ext. 5664
[email protected]

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
[email protected]

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
[email protected]

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