Brighthouse Financial PFDs: Update With Acquisition Still Pending (Rating Upgrade)
Seeking Alpha rates Brighthouse Financial preferreds Hold, noting their 12% yields alongside risks from the uncertain Aquarian acquisition, now delayed until December 2026 amid regulatory scrutiny and financing questions. The preferreds are non-cumulative and could face delisting after a merger, while dividend coverage and equity ratios are modest and no payments have been missed.
Why it matters — BHF watchers may want to note how the acquisition delay and potential post-merger delisting affect preferred-share risks, balanced against the reported yield and payment history.