Protective Life Global Funding -- Moody's rates Protective Life Global Funding Program (P)A2; stable outlook

New York, October 05, 2015 -- Moody's Investors Service has assigned a provisional (P)A2 long-term debt rating to the $5 billion funding agreement-backed global note program of Protective Life Global Funding (Protective-GF), a newly organized special purpose Delaware statutory trust established to issue notes collateralized by funding agreements issued to it by Protective Life Insurance Company (Protective Life; insurance financial strength (IFS) at A2/stable). Under the program, Protective-GF may from time to time issue funding agreement-backed notes denominated in U.S. dollars or other currencies to U.S. institutional debt investors and non-U.S. investors. The outlook on the rating is stable.

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