S&P gives BBB+ to Corebridge notes

S&P said it assigned its BBB+ debt rating to Corebridge Financial Inc.'s planned fixed-rate senior notes.

The rating is the same as S&P’s ratings on Corebridge’s outstanding senior unsecured notes.

Corebridge intends to use the proceeds to pay down a portion of the $1.5 billion aggregate principal currently drawn under the company's unsecured three-year delayed draw term loan facility.

“We view this transaction as neutral to the company's financial leverage,” S&P said in a press release.

The outlook is stable.

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