Credit Rating Report

Manulife Financial Corporation and Related Entities: Rating Report

Insurance Organizations

Summary

On October 4, 2019, DBRS Limited (DBRS Morningstar) changed the trends to Positive from Stable on Manulife and affiliates. DBRS Morningstar also confirmed the Issuer Rating and Medium-Term Notes rating of Manulife at “A,” its Unsecured Subordinated Debentures rating at A (low) and its Non-Cumulative Preferred Shares rating at Pfd-2. In addition, DBRS Morningstar confirmed MLI’s Issuer Rating and Financial Strength Rating at AA (low), as well as its Unsecured Subordinated Debentures rating at A (high) and its Non-Cumulative Preferred Shares rating at Pfd-1 (low). Concurrently, DBRS Morningstar confirmed the Fixed/Floating Subordinated Debentures of Manulife Finance (Delaware), L.P. at A (low) and the Manulife Financial Capital Trust II Notes – Series 1 rating of Manulife Financial Capital Trust II at “A.”

Ratings

Manufacturers Life Insurance Company, The
  • Date Issued:Oct 4, 2019
  • Rating Action:Trend Change
  • Ratings:AA (low)
  • Trend:Pos
  • Rating Recovery:
  • Issued:CAUE
  • Date Issued:Oct 4, 2019
  • Rating Action:Trend Change
  • Ratings:A (high)
  • Trend:Pos
  • Rating Recovery:
  • Issued:CAUE
  • Date Issued:Oct 4, 2019
  • Rating Action:Trend Change
  • Ratings:Pfd-1 (low)
  • Trend:Pos
  • Rating Recovery:
  • Issued:CAUE
  • Date Issued:Oct 4, 2019
  • Rating Action:Trend Change
  • Ratings:AA (low)
  • Trend:Pos
  • Rating Recovery:
  • Issued:CAUE
Manulife Finance (Delaware), L.P.
  • Date Issued:Oct 4, 2019
  • Rating Action:Trend Change
  • Ratings:A (low)
  • Trend:Pos
  • Rating Recovery:
  • Issued:CAUE
Manulife Financial Capital Trust II
  • Date Issued:Oct 4, 2019
  • Rating Action:Trend Change
  • Ratings:A
  • Trend:Pos
  • Rating Recovery:
  • Issued:CAE
Manulife Financial Corporation
  • Date Issued:Oct 4, 2019
  • Rating Action:Trend Change
  • Ratings:A
  • Trend:Pos
  • Rating Recovery:
  • Issued:CAUE
  • Date Issued:Oct 4, 2019
  • Rating Action:Trend Change
  • Ratings:A
  • Trend:Pos
  • Rating Recovery:
  • Issued:CAUE
  • Date Issued:Oct 4, 2019
  • Rating Action:Trend Change
  • Ratings:A (low)
  • Trend:Pos
  • Rating Recovery:
  • Issued:CAUE
  • Date Issued:Oct 4, 2019
  • Rating Action:Trend Change
  • Ratings:Pfd-2
  • Trend:Pos
  • Rating Recovery:
  • Issued:CAUE
  • US = Lead Analyst based in USA
  • CA = Lead Analyst based in Canada
  • EU = Lead Analyst based in EU
  • UK = Lead Analyst based in UK
  • E = EU endorsed
  • U = UK endorsed
  • Unsolicited Participating With Access
  • Unsolicited Participating Without Access
  • Unsolicited Non-participating

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