Fitch Ratings said Friday that it had assigned an A-plus rating to Sun Life Financial Inc.'s new issue of up to $603 million of senior unsecured debentures.
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It also affirmed Sun Life's AA-minus issuer default rating and the ratings on outstanding senior debentures and preferred stock, with a stable outlook. The net proceeds of the new issue are expected to be used for general corporate purposes, including investment in subsidiaries.
Sun Life is a Toronto financial services holding company with interests in life insurance, health insurance, and wealth accumulation. It has operations in Canada, the United States, United Kingdom, and Asia.
