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ING U.S. Inc. Junior Subordinated Debt Rated 'BB'

Published May 13, 2013

1029 words — Published May 13, 2013

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Abstract:

TORONTO (Standard&Poor's) May 13, 2013--Standard&Poor's Ratings Services said today that it assigned its 'BB' junior subordinated debt rating to up to $750 million of junior subordinated notes due 2053 being offered by ING U.S. Inc. (BBB-/Stable/A-3). The notes are rated two notches below our issuer credit rating on ING U.S., reflecting one notch for optional deferral and one for subordination to senior indebtedness, consistent with our hybrid ratings criteria. We will treat the notes as intermediate-equity-content hybrids because they allow for optional deferral for up to five years, are subordinate to ING U.S.'s senior indebtedness, and have more than 20 years remaining to maturity. ING U.S. expects to use the proceeds to repay all amounts currently

Brief Excerpt:

RESEARCH ING U.S. Inc. Junior Subordinated Debt Rated '##' Publication date: 13-May-2013 Primary Credit Analyst: Donald H Chu, CFA, Toronto (1) 416-507-2506; donald.chu@standardandpoors.com Secondary Contacts: David M Zuber, New York...

Report Type:

Ratings Action

Ticker

2713Z

Issuer

Voya Financial Inc.

GICS

Life & Health Insurance (40301020)

Sector

Global Issuers

Country

United States

Region

United States

Format:

HTML

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MLA:	S&P Global Ratings’ Credit Research. "ING U.S. Inc. Junior Subordinated Debt Rated 'BB'" May 13, 2013. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/ING-U-S-Inc-Junior-Subordinated-Debt-Rated-BB-1131102>

APA:	S&P Global Ratings’ Credit Research. (). ING U.S. Inc. Junior Subordinated Debt Rated 'BB' May 13, 2013. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/ING-U-S-Inc-Junior-Subordinated-Debt-Rated-BB-1131102>

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