OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has assigned the Long-Term Issue Credit Rating (Long-Term
IR) of “bbb” to the forthcoming $350 million 4.5% senior unsecured
notes, due 2049, recently announced by Liberty Mutual Group Inc. (LMGI)
(Boston, MA). The notes are guaranteed by Liberty Mutual Holding Company
Inc. and LMHC Massachusetts Holdings, Inc. The outlook assigned to the
Credit Rating (rating) is stable.
Following the senior unsecured notes issue, financial leverage and
coverage measures will be supportive of the assigned ratings. LMGI
intends to use the net proceeds of the offering to redeem higher coupon
debt and for general corporate purposes.
LMGI’s Long-Term Issuer Credit Rating of “bbb”, its existing Long-Term
IRs and the ratings of its operating insurance subsidiaries are
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 Understanding
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 rating agency and information provider with a
unique focus on the insurance industry. Visit www.ambest.com
for more information.
Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.
Contacts
Gregory Dickerson
Senior Financial Analyst
+1
908 439 2200, ext. 5161
[email protected]
Christopher
Sharkey
Manager, Public Relations
+1 908 439
2200, ext. 5159
[email protected]
Jennifer
Marshall, CPCU, ARM
Director
+1 908 439 2200,
ext. 5327
[email protected]
Jim
Peavy
Director, Public Relations
+1 908 439
2200, ext. 5644
[email protected]
