A.M. Best Assigns Debt Rating to CNA Financial Corporation’s Forthcoming Senior Notes
OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has assigned a debt rating of “bbb” to the forthcoming $550 million 3.95% senior unsecured notes due May 2024 to be issued by CNA Financial Corporation (CNAF) (headquartered in Chicago, IL) [NYSE: CNAF]. The outlook assigned is stable.
CNAF intends to use the net proceeds to repay at maturity its $549 million of 5.85% senior notes due December 2014. The company’s financial leverage and coverage measures will remain within A.M. Best’s guidelines for the assigned rating.
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