A.M. Best Assigns Debt Rating to CNA Financial Corporation’s Forthcoming Senior Notes
February 25 2014 - 9:38AM
Business Wire
A.M. Best has assigned a debt rating of “bbb” to the
forthcoming $550 million 3.95% senior unsecured notes due May 2024
to be issued by CNA Financial Corporation (CNAF)
(headquartered in Chicago, IL) [NYSE: CNAF]. The outlook assigned
is stable.
CNAF intends to use the net proceeds to repay at maturity its
$549 million of 5.85% senior notes due December 2014. The company’s
financial leverage and coverage measures will remain within A.M.
Best’s guidelines for the assigned rating.
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. 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, visit www.ambest.com.
Copyright © 2014 by A.M. Best Company,
Inc. ALL RIGHTS RESERVED.
A.M. Best CompanyBrian O’LarteSenior Financial
Analyst(908) 439-2200, ext.
5138brian.o'larte@ambest.comorJennifer
MarshallAssistant Vice President(908) 439-2200, ext.
5327jennifer.marshall@ambest.comorRachelle
MorrowSenior Manager, Public Relations(908) 439-2200,
ext. 5378rachelle.morrow@ambest.comorJim
PeavyAssistant Vice President, Public Relations(908)
439-2200, ext. 5644james.peavy@ambest.com
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