Manulife Financial Corporation and Related Entities: Rating Report

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.”