Fitch rates MassMutual notes AA-

Fitch Ratings said it assigned a AA- rating to Massachusetts Mutual Life Insurance Co.’s (MassMutual) surplus note issuance of $800 million notional due February 2069.

“The ratings assigned to the new surplus note are equivalent to the ratings assigned to MassMutual's existing surplus notes are subordinated in priority relative to insurance company obligations and reflect standard notching based on Fitch's rating criteria. The surplus notes are rated one notch below MassMutual's long-term issuer default rating (IDR) of AA,” the agency said in a press release.

MassMutual's other ratings are unaffected by this rating, Fitch said.

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