Business Wire 14-Jun-2019 10:39 AM
AM Best has assigned Long-Term Issue Credit Ratings (Long-Term IR) of "a+" to Chubb INA Holdings Inc.'s (Chubb) (Delaware) recently announced EUR 575 million 0.875% senior unsecured notes due 2027 and EUR 575 million 1.400% senior unsecured notes due 2031. The notes are guaranteed by Chubb Limited (NYSE:CB). The outlook assigned to the Credit Ratings (ratings) is stable.
Following the senior unsecured notes issue, financial leverage and coverage measures will remain supportive of the assigned ratings. Chubb intends to use the net proceeds of the offering to repay at maturity the $1.3 billion principal amount of its 2.300% senior unsecured notes due Nov. 3, 2020. Chubb's Long-Term Issuer Credit Rating of "a+," its existing Long-Term IRs and the ratings of its operating insurance subsidiaries are unchanged.
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