Massachusetts Mutual Life Insurance is marketing an unusually large offering of bonds backed by equipment loans and leases.

Fitch Ratings and Moody's Investors Service have both assigned preliminary ratings to six senior tranches of notes totaling $1.064 billion to be issued by MMAF Equipment Finance Series 2017-A.  There is a $145 million money market tranche and five tranches of term notes rated triple-A: $235 million maturing in May 2020, $225 million maturing in February 2022, $213 million maturing in August 2024, $130 million maturing in July 2027, and $116 million maturing in November 2039. All benefit from 10% credit enhancement.

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