A.M. Best Assigns Debt Ratings to Assurant, Inc.'s Forthcoming Senior Notes
OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best Co. has assigned debt ratings of "bbb" to the $250 million 2.96% senior unsecured notes due March 2018, the $250 million 4.26% senior unsecured notes due March 2023 and the $250 million 5.83% senior unsecured notes due March 2043 to be issued by Assurant, Inc. (Assurant) (headquartered in New York, NY) (NYS: AIZ) . The outlook assigned to all ratings is stable.
Assurant intends to use the net proceeds for general corporate purposes including to repay at maturity its $500 million of 5.63% senior notes due February 2014. The company's financial leverage and coverage measures will remain within A.M. Best's guidelines for the assigned ratings.
The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best's rating process and contains the different rating criteria employed in the rating process. Key criteria utilized include: "Risk Management and the Rating Process for Insurance Companies" and "Insurance Holding Company and Debt Ratings." Best's Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visitwww.ambest.com.
Copyright © 2013 by A.M. Best Company, Inc.ALL RIGHTS RESERVED.
A.M. Best Co.
Brian O'Larte, 908-439-2200, ext. 5138
Senior Financial Analyst
Jennifer Marshall, 908-439-2200, ext. 5327
Managing Senior Financial Analyst
Rachelle Morrow, 908-439-2200, ext. 5378
Senior Manager, Public Relations
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
KEYWORDS: United States Europe North America New Jersey
The article A.M. Best Assigns Debt Ratings to Assurant, Inc.'s Forthcoming Senior Notes originally appeared on Fool.com.
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