News Column

A.M. Best Assigns Indicative Ratings to Principal Financial Group, Inc.’s New Shelf Registration

May 7, 2014



OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Besthas assigned indicative ratings of “a-” to senior unsecured debt, “bbb+” to subordinated debt and “bbb” to preferred shares of the recently filed universal shelf registration of Principal Financial Group, Inc. (Principal) (Des Moines, IA) [NYSE: PFG]. The outlook assigned is stable. The new shelf registration replaces Principal’s previous shelf, which expires in late May 2014. Consequently, A.M. Best has withdrawn the ratings for the previous shelf registration. All remaining ratings of Principal and its subsidiaries are unchanged. (For further information, please see A.M. Best’s press release dated December 10, 2013.)

As of March 31, 2014, Principal’s debt-to-capital and interest coverage ratios were well within A.M. Best’s guidelines for its current rating level. Principal’s current ratings reflect its good financial flexibility as well as the organization’s diversified operating earnings, record assets under management and positive net flow. The ratings also reflect the continued performance improvement in Principal’s investment portfolio.

The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2014 by A.M. Best Company, Inc.ALL RIGHTS RESERVED.





A.M. Best Company, Inc.

Kate Steffanelli, 908-439-2200, ext. 5063

Senior Financial Analyst

kathryn.steffanelli@ambest.com

or

Ken Johnson, CFA, 908-439-2200, ext. 5056

Assistant Vice President

ken.johnson@ambest.com

or

Rachelle Morrow, 908-439-2200, ext. 5378

Senior Manager, Public Relations

rachelle.morrow@ambest.com

or

Jim Peavy, 908-439-2200, ext. 5644

Assistant Vice President, Public Relations

james.peavy@ambest.com

Source: A.M. Best Company, Inc.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Business Wire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters