Press Release - JUNE 05, 2019

AM Best Assigns Issue Credit Rating to Liberty Mutual Group Inc.’s Forthcoming Senior Unsecured Notes


CONTACTS:
 Gregory Dickerson
Senior Financial Analyst
+1 908 439 2200, ext. 5161
gregory.dickerson@ambest.com

Jennifer Marshall, CPCU, ARM
Director
+1 908 439 2200, ext. 5327
jennifer.marshall@ambest.com
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

FOR IMMEDIATE RELEASE

OLDWICK - JUNE 05, 2019
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.


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