AM Best Assigns Issue Credit Rating to Markel Corporation’s Recently Announced Preferred Stock
May 21 2020 - 4:40PM
Business Wire
AM Best has assigned a Long-Term Issue Credit Rating of
“bbb-” to the recently announced $600 million 6.0% non-cumulative
preferred stock issued by Markel Corporation (Markel) (Glen Allen,
VA) [NYSE: MKL]. The outlook assigned to this Credit Rating
(rating) is stable.
Proceeds from the offering will be used for general corporate
purposes. Markel maintains financial leverage and coverage measures
that are within AM Best’s guidelines for this rating. All other
existing ratings of Markel and its subsidiaries remain
unchanged.
This press release relates to Credit Ratings that have been
published on AM 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 see AM Best’s Recent
Rating Activity web page. For additional information
regarding the use and limitations of Credit Rating opinions, please
view Guide to Best’s Credit Ratings. For information
on the proper media use of Best’s Credit Ratings and AM Best press
releases, please view Guide for Media - Proper Use of Best’s
Credit Ratings and AM Best Rating Action Press
Releases.
AM Best is a global credit rating agency, news publisher and
data analytics provider specializing in the insurance industry.
Headquartered in the United States, the company does business in
over 100 countries with regional offices in New York, London,
Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more
information, visit www.ambest.com.
Copyright © 2020 by A.M. Best Rating
Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Ana Daley Financial Analyst +1 908 439 2200, ext. 5326
ana.daley@ambest.com
Christopher Sharkey Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
Jennifer Marshall Director +1 908 439 2200,
ext. 5327 jennifer.marshall@ambest.com
Jim Peavy Director, Public Relations +1 908 439
2200, ext. 5644 james.peavy@ambest.com
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