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A.M. Best Assigns Debt Rating to ProSight Global Inc.'s New Senior Unsecured Notes


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Adrienne Tortoriello
Senior Financial Analyst
(908) 439-2200, ext. 5088
adrienne.tortoriello@ambest.com

Jennifer Marshall
Assistant Vice President
(908) 439-2200, ext. 5327
jennifer.marshall@ambest.com


Christopher Sharkey
Manager, Public Relations
(908) 439-2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Assistant Vice President, Public Relations
(908) 439-2200, ext. 5644
james.peavy@ambest.com

FOR IMMEDIATE RELEASE

OLDWICK - JANUARY 27, 2015 10:24 AM (EST)
A.M. Best has assigned a debt rating of "bbb" to the newly issued $25 million 6.5% senior unsecured notes due 2020 of ProSight Global, Inc. (ProSight Global). The outlook assigned to the rating is stable. ProSight Global Holdings Limited (ProSight Global Holdings), the parent company of ProSight Global, is the guarantor of the senior notes. All companies are headquartered in Morristown, NJ.

The proceeds from this debt issuance are expected to be used for general corporate purposes. While ProSight Global Holdings' financial leverage will increase upon issuance, financial leverage and coverage measures will remain within A.M. Best's guidelines for the assigned ratings.

The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best's rating process and contains the different rating criteria employed in the rating process. Best's Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.

Key insurance criteria reports utilized:


  • Analyzing Insurance Holding Company Liquidity

  • Insurance Holding Company and Debt Ratings

  • Risk Management and the Rating Process for Insurance Companies

This press release relates to rating(s) that have been published on A.M. 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 visit A.M. Best's Ratings & Criteria Center .

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source.


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