AM Best Assigns Issue Credit Rating to Intact Financial Corporation’s Senior Unsecured Medium-Term Notes and Subordinated Notes

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “a-” (Excellent) to the recently announced CAD 250 million, 3.784% senior unsecured medium-term notes, due February 2038, issued by Intact Financial Corporation (Intact) (Toronto, Ontario, Canada). At the same time, AM Best also has assigned a Long-Term IR of “bbb” (Good) to the recently announced CAD 250 million, 5.642% subordinated notes, due March 2086, also issued by Intact. The outlook assigned to these Credit Ratings is stable.

The net proceeds from Intact’s debt offerings will be used toward repayment of any amounts that it previously borrowed, and general corporate purposes. As a result of the offerings, Intact’s financial leverage remains in-line with current rating guidelines.

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