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A.M. Best Assigns Debt Ratings to MetLife, Inc.’s Remarketed Senior Unsecured Debentures



  A.M. Best Assigns Debt Ratings to MetLife, Inc.’s Remarketed Senior
  Unsecured Debentures

Business Wire

OLDWICK, N.J. -- September 28, 2012

A.M. Best Co. has assigned debt ratings of “a-” to the remarketed $500 million
1.756% senior unsecured debentures, which will be due December 15, 2017 and
$500 million 3.048% senior unsecured debentures, which will be due December
15, 2022 of MetLife, Inc. (MetLife) (New York, NY) [NYSE: MET]. The outlook
assigned to both ratings is stable.

The debentures were originally issued in November 2010 as a $1.0 billion
aggregate Series C debenture due 2023. These debentures formed part of
MetLife’s common equity units with an aggregate stated amount at issuance of
$3.0 billion. The remaining $2.0 billion of debentures are expected to be
remarketed in September 2013 and October 2014. These equity units were
originally issued to American International Group, Inc. (AIG) as part of
MetLife’s acquisition of American Life Insurance Company (ALICO).

A.M. Best notes that MetLife’s overall financial leverage is expected to
remain below 30%, while interest coverage is expected to remain above five
times. Both measures are within A.M. Best’s guidelines for MetLife’s current
ratings.

The methodology used in determining these ratings is Best’s Credit Rating
Methodology, which provides a comprehensive explanation of A.M. Best’s rating
process and contains the different rating criteria employed in the rating
process. Best’s Credit Rating Methodology can be found at
www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is the world’s oldest and most
authoritative insurance rating and information source. For more information,
visit www.ambest.com.

       Copyright © 2012 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Contact:

A.M. Best Co.
Edward Kohlberg
Senior Financial Analyst
(908) 439-2200, ext. 5664
edward.kohlberg@ambest.com
or
William Pargeans
Assistant Vice President
(908) 439-2200, ext. 5359
william.pargeans@ambest.com
or
Rachelle Morrow
Senior Manager, Public Relations
(908) 439-2200, ext. 5378
rachelle.morrow@ambest.com
or
Jim Peavy
Assistant Vice President, Public Relations
(908) 439-2200, ext. 5644
james.peavy@ambest.com
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