A.M. Best Assigns Indicative Rating to Sun Life Financial Inc.`s Senior Unsecured Debt Offering

OLDWICK, N.J.--(Business Wire)--
A.M. Best Co. has assigned a debt rating of "a" to the CAD 300 million 5.70%
fixed rate senior unsecured debentures due 2019 of Sun Life Financial Inc. (SLF)
(Toronto, Ontario). The rating outlook is stable. All other ratings of SLF and
its life/health insurance subsidiaries are unaffected.

This offering is issued under the November 2005 trust indenture. The proceeds
from the senior debt offering will be match funded and are expected to be used
for general corporate purposes.

The rating reflects SLF`s diversified and profitable operations, favorable
risk-adjusted capitalization and very strong market position in all major
business segments in Canada, complemented by growth outside of North America.
Moreover, the company enjoys further diversification through its Asia-based
operations.

The ratings of SLF and its life/health insurance subsidiaries are reflective of
its diversified revenue stream from multiple regions, profitable operations in
Canada, favorable risk-adjusted capitalization and well-developed and fully
integrated risk management framework. The company`s first quarter 2009
regulatory capital ratio in Canada is considered strong.

SLF is a Canadian-based holding company with a top three market position in the
Canadian insurance market. SLF also maintains wealth management and life
insurance operations in Asia.

A.M. Best expects SLF to continue facing challenges due to stresses in the
global macroeconomic environment, especially in its U.S. operations. The
prolonged weakness in the equity markets through 2009 has continued to pressure
both SLF`s insurance operations, primarily in the United States and its asset
management operation, McLean Budden and MFS Investment Management.

For additional information on SLF`s current ratings, please see A.M. Best`s
press release of February 27, 2009.

For Best`s Credit Ratings, an overview of the rating process and rating
methodologies, please visit www.ambest.com/ratings.

The principal methodologies used in determining these ratings, including any
additional methodologies and factors, which may have been considered, can be
found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is a global full-service credit rating
organization dedicated to serving the financial and health care service
industries, including insurance companies, banks, hospitals and health care
system providers. For more information, visit www.ambest.com.

A.M. Best Co.
Analysts
Marc Steinberg, 908-439-2200, ext. 5225
marc.steinberg@ambest.com
or
William Pargeans, 908-439-2200, ext. 5359
william.pargeans@ambest.com
or
Public Relations
Jim Peavy, 908-439-2200, ext. 5644
james.peavy@ambest.com
or
Rachelle Morrow, 908-439-2200, ext. 5378
rachelle.morrow@ambest.com

Copyright Business Wire 2009