...NEW YORK (S&P Global Ratings) May 9, 2017--S&P Global Ratings said today it assigned its '###+' debt rating to Sammons Financial Group Inc. (SFG; ###+/Stable/--) senior unsecured note issuance. The rating on the senior unsecured debt reflects our counterparty credit rating on Sammons Financial Group. The company expects to use the proceeds for general corporate purposes, including contributions to insurance subsidiaries to support growth. On a pro-forma basis, we expect total consolidated financial leverage of around 10% and fixed-charge coverage in the range of 15x-20x--both in line with our expectations and supportive of our assessment of strong financial flexibility. Our ratings on Sammons Financial Group and its subsidiaries reflect a strong business risk profile and very strong financial risk profile, supported by a well-balanced business mix of fixed-indexed annuities and life insurance, well-established distribution relationships, favorable operating performance relative to peers',...
