A.M. Best Assigns Rating to American Financial Group, Inc.’s Recently Announced Subordinated Debentures
November 11 2015 - 12:48PM
Business Wire
A.M. Best has assigned an issue rating of “bbb+” to the
recently announced 40-year, $150 million 6.0% subordinated
debentures of American Financial Group, Inc. (AFG)
(Cincinnati, OH) (NYSE:AFG). The outlook assigned to the rating is
stable. All remaining ratings of AFG and its subsidiaries are
unchanged.
The proceeds from this issuance will be used for general
corporate purposes, which may include stock repurchases. The debt
offering is pursuant to a shelf registration statement filed with
the Securities and Exchange Commission. While AFG’s financial
leverage will modestly increase in the near term, it will remain
within A.M. Best’s guidelines to support its current ratings.
This press release relates to rating(s) that have been
published on A.M. Best's website. For all rating information
relating to the release and pertinent disclosures, including
details of the office responsible for issuing each of the
individual ratings referenced in this release, please visit A.M.
Best’s Ratings & Criteria Center.
A.M. Best Company is the world's oldest and most
authoritative insurance rating and information source. For more
information, visit www.ambest.com.
Copyright © 2015 by A.M. Best Company,
Inc. ALL RIGHTS RESERVED.
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version on businesswire.com: http://www.businesswire.com/news/home/20151111006218/en/
A.M. BestMichael RussoSenior Financial
Analyst(908) 439-2200, ext.
5372michael.russo@ambest.comorJennifer
MarshallAssistant Vice President(908) 439-2200, ext.
5327jennifer.marshall@ambest.comorChristopher
SharkeyManager, Public Relations(908) 439-2200, ext.
5159christopher.sharkey@ambest.comorJim
PeavyAssistant Vice President, Public Relations(908)
439-2200, ext. 5644james.peavy@ambest.com
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