Best’s News & Research Service - June 04, 2024 09:27 AM (EDT)
AM Best Assigns Issue Credit Rating to USAA Capital Corporation’s Senior Unsecured Medium-Term Notes
- June 04, 2024 09:27 AM (EDT)
//BestWire// - AM Best has assigned a Long-Term Issue Credit Rating of “aaa” (Exceptional) to the $500 million, 5.25% senior unsecured medium-term notes, due June 1, 2027, issued by USAA Capital Corporation (headquartered in San Antonio, TX). The outlook assigned to the Credit Rating (rating) is stable. All other ratings of USAA Capital Corporation and its insurance affiliates remain unchanged.
AM Best notes that USAA Capital Corporation’s $500 million, 0.5% senior unsecured medium-term notes issued in 2021 matured on May 1, 2024. The net impact of the debt transactions results in stable financial leverage, which remains within AM Best’s guidelines for the current ratings.
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