OLDWICK, N.J.--(BUSINESS WIRE)--#insurance--AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “a-” (Excellent) to the $300 million 3.4% senior unsecured notes, due March 1, 2032 issued by Lincoln National Corporation (LNC) (Fort Wayne, IN). The outlook assigned to this Credit Rating (rating) is stable. LNC’s existing Long-Term Issuer Credit Rating and Long-Term IRs remain unchanged.

Proceeds from the notes will be used toward the partial payment of the $500 million 4% senior unsecured notes, due 2023. This issuance is part of LNC’s overall deleveraging and liability management program to reduce near-term refinancing risk, manage leverage ratios and extend its overall maturity profile. LNC’s financial leverage and coverage metrics remain within AM Best’s guidelines.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Shauna Nelson

Senior Financial Analyst

+1 908 439 2200, ext. 5365

shauna.nelson@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Bruno Caron
Associate Director
+1 908 439 2200, ext. 5144

bruno.caron@ambest.com

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com