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FOR IMMEDIATE RELEASE
OLDWICK - APRIL 29, 2016 11:50 AM (EDT)
A.M. Best has assigned an issue rating of “bbb” to the recently announced EUR 750 million 2.75% fixed rate senior unsecured euro bonds to be issued by Liberty Mutual Group Inc. (LMGI) (Boston, MA) due 2026. The outlook assigned to the rating is stable. The existing ratings of LMGI and its subsidiaries are unchanged.
LMGI intends to use the net proceeds for general corporate purposes. The issued notes are to be guaranteed by LMGI’s immediate parents, Liberty Mutual Holding Company Inc. and LMHC Massachusetts Holdings Inc.
LMGI’s financial leverage and coverage ratios are within A.M. Best’s guidelines for LMGI’s current rating and are expected to remain so over the near term.
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 see A.M. Best’s Recent Rating Activity web page.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source.