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AM Best Assigns Issue Credit Rating to Equitable Holdings, Inc.?s New Junior Subordinated Notes

BY Business Wire | CORPORATE | 03/26/25 04:19 PM EDT

OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has assigned a Long-Term Issue Credit Rating of ?bbb-? (Good) to the $500 million 6.7% junior subordinated notes, due 2055, issued by Equitable Holdings, Inc. (Delaware) on March 26, 2025. The outlook assigned to this Credit Rating (rating) is stable.

The net proceeds from Equitable Holdings, Inc.?s recent debt issuance are expected to be used to repurchase in whole or part the Series B Depositary preferred shares and for general corporate purposes. Financial leverage and interest coverage ratios are within rating guidelines.

The Long-Term Issuer Credit Rating (Long-Term ICR) of ?bbb+? (Good) of Equitable Holdings, Inc. and the Financial Strength Rating of A (Excellent) and the Long-Term ICR of ?a+? (Excellent) of the insurance operations of Equitable Financial Life Insurance Company of America (EFLICOA) (Phoenix, AZ) and Equitable Financial Life Insurance Company (EFLIC) (New York, NY) remain unchanged. EFLICOA and EFLIC collectively are referred to as Equitable Life.

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 use of Best?s Credit Ratings, Best?s Performance Assessments, Best?s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best?s Ratings & Assessments.

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 London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright ? 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Source: AM Best

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