S&P: Securian Financial Group Inc. Senior Unsecured Notes Rated 'A-'

S&P Global Ratings said today that it has assigned its 'A-' debt rating to Securian Financial Group Inc.'s proposed senior unsecured debt issuance. The issuance has a 30-year maturity, and the company will use the proceeds for general corporate purposes.

Securian Financial maintains a strong business profile encompassing a diversified product offering, solid market position in its core products, and stable operating performance. The company's financial profile continues to be extremely strong with 'AAA' capital adequacy per our risk-based capital model and adequate financial flexibility.

We expect a modest increase in financial leverage with this issuance, but leverage should remain less than 20% for year-end 2018. We also expect EBITDA interest coverage to be above 10x. We believe Securian will continue to generate solid earnings, defend its market position, and maintain its financial profile commensurate with overall ratings.

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