S&P gives B+ to Fidelity & Guaranty notes

Standard & Poor's said it assigned a B+ long-term counterparty credit rating to Fidelity & Guaranty Life Holdings Inc. and a rating of B+ to its $300 million senior unsecured notes maturing in 2021.

The outlook is stable.

"The rating on FGLH is one rating category below our financial strength rating on its operating companies," said S&P credit analyst Marilyn Castro in a news release.

S&P said the senior unsecured note rating reflects S&P's view that ordinary statutory dividends from the company will be adequate to service the debt and that debt leverage and interest coverage metrics are commensurate with the rating.

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