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A.M. Best Assigns Debt Rating to Nationwide Mutual Insurance Company's Surplus Notes


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Raymond Thomson, ARe, ARM
Senior Financial Analyst
(908) 439-2200, ext. 5621
raymond.thomson@ambest.com

Greg Williams
Assistant Vice President
(908) 439-2200, ext. 5815
greg.williams@ambest.com

Rachelle Morrow
Senior Manager, Public Relations
(908) 439-2200, ext. 5378
rachelle.morrow@ambest.com

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

FOR IMMEDIATE RELEASE

OLDWICK - APRIL 22, 2014 02:19 PM (EDT)
A.M. Best has assigned a debt rating of "a" to the $400 million 4.95% surplus notes due April 2044 recently issued by Nationwide Mutual Insurance Company (Columbus, OH). The outlook assigned to the rating is stable.

Nationwide intends to use the net proceeds to repay the callable $400 million, 6.6% surplus notes due April 2034. The company's financial leverage and coverage measures will remain within A.M. Best's guidelines for the assigned rating.

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.

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AMB# Company Name
002358 Nationwide Mutual Insurance Company