SEPTEMBER 09, 2020 04:50 PM (EDT)
AM Best Assigns Issue Credit Rating to American Financial Group, Inc.’s New Subordinated Debentures
FOR IMMEDIATE RELEASE
OLDWICK - SEPTEMBER 09, 2020 04:50 PM (EDT)
The proceeds of the sale are expected to be used for general corporate purposes, which may include the redemption of callable subordinated debt and stock repurchases. Unless all proceeds are used to redeem debt, AFG’s adjusted and unadjusted financial leverage ratios will increase, and coverage will decline modestly but remain within AM Best’s expectations for AFG’s current Long-Term IR.
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.