06.10.2016 00:39:00
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MetLife, Inc. -- Moody's confirms MetLife's ratings (A3 senior); downgrades financial strength of Brighthouse subsidiaries to A3
New York, October 05, 2016 -- Moody's Investors Service today confirmed MetLife, Inc.'s (MetLife; NYSE: MET) long-term credit ratings (senior debt at A3) and the Aa3 insurance financial strength (IFS) ratings of Metropolitan Life Insurance Company (MLIC), General American Life Insurance Company and Metropolitan Tower Life Insurance Company (collectively called RemainCo). In the same rating action, Moody's downgraded the IFS ratings of MetLife Insurance Company USA and New England Life Insurance Company to A3 from Aa3. These two operating companies, along with First MetLife Investors Insurance Company (not rated), will separate from MetLife and reside under newly formed holding company, Brighthouse Financial, Inc. (Brighthouse, unrated) as disclosed in the SEC Form 10 statement Brighthouse filed today. The IFS rating of American Life Insurance Company (ALICO) was unaffected by this rating action. The outlook for the ratings is stable.