Financial Strength Ratings and Credit Ratings of MetLife, Inc. and Subsidiaries
MetLife, Inc. and its subsidiaries have obtained financial strength and/or credit ratings from various rating agencies. Insurer financial strength ratings represent the opinions of rating agencies regarding the ability of an insurance company to meet its financial obligations to policyholders and contract holders. Credit ratings represent the opinions of rating agencies regarding an issuer's ability to repay its indebtedness. The following charts include ratings for certain companies in the MetLife enterprise. For more information about a particular rating, or information about ratings of other MetLife companies which are not set forth below, please visit the website of the relevant rating agency or see MetLife, Inc.'s reports filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934. The following ratings are current as of October 27, 2008.
Insurer Financial Strength Ratings
| |
A.M. Best Company
|
Fitch Ratings
|
Moody's
Investors
Service
|
Standard & Poor's
|
| First MetLife Investors Insurance Company |
A+
|
N/R
|
N/R
|
AA
|
| General American Life Insurance Company |
A+
|
AA
|
Aa2
|
AA
|
| MetLife Insurance Company of Connecticut |
A+
|
AA
|
Aa2
|
AA
|
| MetLife Investors Insurance Company |
A+
|
AA
|
Aa2
|
AA
|
| MetLife Investors USA Insurance Company |
A+
|
AA
|
Aa2
|
AA
|
| Metropolitan Life Insurance Company |
A+
|
AA
|
Aa2
|
AA
|
| New England Life Insurance Company |
A+
|
AA
|
Aa2
|
AA
|
| Texas Life Insurance Company |
A
|
N/R
|
N/R
|
N/R
|
Credit Ratings
| |
A.M. Best Company
|
Fitch Ratings
|
Moody's
Investors
Service
|
Standard & Poor's
|
| General American Life Insurance Company |
|
|
|
|
| Surplus Notes |
a+
|
N/R
|
A1
|
A+
|
| MetLife Capital Trust II & III |
|
|
|
|
| Trust Preferred Stock |
a-
|
A-
|
A3
|
BBB+
|
| MetLife Capital Trust IV & X |
|
|
|
|
| Trust Securities |
bbb+
|
A-
|
Baa1
|
BBB+
|
| MetLife Funding, Inc. |
|
|
|
|
| Commercial Paper |
AMB-1+
|
F1+
|
P-1
|
A-1+
|
| MetLife, Inc. |
|
|
|
|
| Commercial Paper |
AMB-1
|
F1
|
P-1
|
A-1
|
| Senior Unsecured Debt |
a
|
A
|
A2
|
A
|
| Subordinated Debt |
a-
|
N/R
|
A3
|
N/R
|
| Junior Subordinated Debt |
bbb+
|
A-
|
Baa1
|
BBB+
|
| Preferred Stock |
bbb+
|
A-
|
Baa1
|
BBB+
|
Noncumulative Perpetual
Preferred Stock |
bbb+
|
A-
|
Baa1
|
BBB
|
| Metropolitan Life Insurance Company |
|
|
|
|
| Surplus Notes |
a+
|
A+
|
A1
|
A+
|
N/R indicates not rated.
Rating Stability Indicators
Rating agencies use an “outlook statement” of “positive,” “stable” or “negative” to indicate a medium- or long-term trend in credit fundamentals which, if continued, may lead to a rating change. A rating may have a “stable” outlook to indicate that the rating is not expected to change; however, a “stable” rating does not preclude a rating agency from changing a rating at any time, without notice.
The foregoing insurer financial strength ratings reflect each rating agency’s opinion of Metropolitan Life Insurance Company and MetLife, Inc.’s other insurance subsidiaries’ financial characteristics with respect to their ability to pay obligations under insurance policies and contracts in accordance with their terms, and are not evaluations directed toward the protection of investors in MetLife, Inc.’s securities. Credit ratings are opinions of each agency with respect to specific securities and contractual financial obligations and the issuer’s ability and willingness to meet those obligations when due. Neither insurer financial strength nor credit ratings are statements of fact nor are they recommendations to purchase, hold or sell any security, contract or policy. Each rating should be evaluated independently of any other rating. |
