NEW YORK (Standard&Poor's) March 9, 2007--Standard&Poor's Ratings Services said today that it assigned its 'A+' senior unsecured debt rating to Lincoln National Corp.'s (NYSE:LNC; A+/Stable/A-1) $250 million senior notes due March 2010. Standard&Poor's also assigned its 'A-' junior subordinated debt rating to LNC's $500 million capital securities due in April 2067. "The 'A+' rating reflects LNC's strong diversified cash flows from both insurance and noninsurance operations, strong fixed-charge coverage of 9x, and modest debt to total capital of 19%, considering 100% equity content for this issuance, and 26% financial leverage including debt and hybrid securities to total capital on a 2006 pro forma basis," explained Standard&Poor's credit analyst Kevin Ahern. "The 'A-'
