Metlife Funding Agreements

CHICAGO-(BUSINESS WIRE)–Fitch Ratings has awarded the following new ratings to MetLife, Inc. (MetLife): MetLife Short Term Funding LLC (MSTF) is a limited liability company organized in the State of Delaware to issue commercial securities without recourse, guaranteed by financing agreements granted by MSTF by MLIC, MICC and other related insurance companies. The repayment of the principal and the payment of interest under the trade document come from the cash flows generated by the financing agreements. MetLife Global Funding I (MGF) is a Delaware non-profit trust fund, organized exclusively for the issuance of unregistered notes guaranteed by financing agreements issued by the Metropolitan Life Insurance Company (MLIC), a New York-based life insurance company. The repayment of the principal and the payment of interest on the debt securities come from the cash flows generated by the financing agreements. Under New York insurance law, pari passu financing agreements are consistent with the rights of policyholders. Ratings for the funding agreement`s ratings programs reflect the credit quality of the underlying funding agreements and include a review of the legal structure of the programs involved, applicable government insurance rules and related legal advice. On the basis of this review, Fitch concluded that the legal structure allowed Fitch to “review” the ratings of insurance companies that issue program financing agreements and the obligations issued there. The debt will be used to purchase a financing contract from Metropolitan Life Insurance Co., which intends to invest the proceeds of the sale in green initiatives such as housing, infrastructure, municipal investments and impact, in accordance with Metlife`s sustainable financing framework. (Bloomberg) — MetLife Inc., the largest U.S. life insurer after market capitalization, first sold green bonds when it issued $750 million in debt, which joined the issuance of financial sector securities.

–floating rate preferred shares, Series A to `BBB`; –10.75% of subordinated bonds due in August 2039 from `BBB`; The company`s financial leverage was 28% at the end of 2011, down 30% at the end of the year, while remaining slightly above Fitch`s rating expectations and at the target range of 20 to 25%. The company`s institutional investment management business, MetLife Investment Management LLC, was a signatory to the UNITED Nations-backed Principles of Responsible Investment last year and joined a group that has committed, with approximately $30 trillion in assets, to incorporate environmental, social and governance principles into its investments.