...April 5, 2022 TORONTO (S&P Global Ratings) April 5, 2022--S&P Global Ratings today assigned its '###+' rating to Sammons Financial Group Inc.'s proposed issuance of senior unsecured notes. The rating on the issuance ranks pari passu with the company's existing senior unsecured debt. We expect Sammons to use the proceeds for general corporate purposes, including contributing to insurance subsidiaries to support growth. After this issuance, financial leverage and fixed-charge coverage will remain within our expectations of below 20% and above 8x, respectively. Our ratings reflect the company's strong business risk profile, well-balanced product portfolio, and consistent profitable growth in all its key business segments. Although the overall volume of Sammons' annuity businesses relative to its individual life insurance portfolio has grown in recent years, we view this as a natural byproduct of industry dynamics. The ratings are also supported by our view of the group's very strong capitalization...
