...January 30, 2023 NEW YORK (S&P Global Ratings) Jan. 30, 2023--S&P Global Ratings today assigned its '##+' long-term debt rating on Synchrony Financial's $750 million issuance of subordinated unsecured notes due 2033. The rating on the subordinated debt is two notches lower than the Synchrony's stand-alone credit profile of '###', based on the structural subordination of the holding company and the issue's subordination to existing and future senior unsecured debt. The issuance will build Synchrony's regulatory total capital (it counts as a Tier 2 instrument) and support its business growth plans. Synchrony's total risk-based, Tier 1, and common equity Tier 1 capital ratios were 15%, 13.6%, and 12.8% at year-end 2022, respectively. This transaction will not affect Synchrony's S&P Global Ratings risk-adjusted capital ratio because subordinated debt is not eligible for inclusion in our total adjusted capital, the numerator of the ratio....
