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S&P rates RGA Global notes AA-
S&P said it assigned its AA- debt rating to RGA Global Funding's planned inaugural note offering of up to $500 million.
RGA Global is a special-purpose statutory trust formed in Delaware, and its primary assets will be funding agreements issued by RGA Reinsurance Co. Th offering will be the first issuance under a planned $3 billion program.
“The notes will be backed by funding agreements issued by RGA Re to Rgagf and will have payment terms equal to those funding agreements. The funding agreements will rank pari passu with policyholder obligations, and therefore our ratings on the notes reflect RGA Re's financial strength,” S&P said in a press release.
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