A.M. Best Co. has assigned a debt rating of “bbb” to the $400 million 6.75 percent fixed-to-floating rate junior subordinated notes issued by Nationwide Financial Services, Inc. The notes have a scheduled maturity of 30 years and a final maturity date of 2067. “The rating assigned to the notes reflects their subordinated status to senior, subordinated and junior subordinated debt of NFS; the replacement capital covenant; and a 10-year optional interest deferral feature,” Best noted.
Was this article valuable?
Here are more articles you may enjoy.
How Federal Ban on Intoxicating Hemp Products Will Reshape Risk, Coverage 
Alabama Pharmacy, Not Agent, at Fault for Not Reading Policy Before $5M Judgment 
Chubb Q3 Net Income Down Slightly on More Catastrophe Losses 
Report: Auto Insurance Total Loss Frequency Climbs, More Drivers Pay Repairs 
