A.M. Best Assigns Debt Rating to AmTrust Financial Services Inc. Forthcoming Preferred Share Offering

OLDWICK, N.J.--()--A.M. Best has assigned a debt rating of “bb+” to the forthcoming $80 million 7.625% non-cumulative perpetual preferred stock of AmTrust Financial Services Inc. (AmTrust) (headquartered in New York, NY) [NASDAQ:AFSI]. The outlook assigned to the rating is stable. All remaining ratings of AmTrust and its subsidiaries are unchanged. (Please see related A.M. Best’s press release dated May 30, 2014 here.)

The proceeds from the issuance will be used for the continued support and development of AmTrust’s business and other general corporate purposes. With the issuance of the preferred shares, AmTrust’s adjusted debt-to-total capital and adjusted debt-to-tangible capital are approximately 22% and 30%, respectively, and are within A.M. Best’s guidelines for its current rating level. In addition, AmTrust’s interest coverage ratio is expected to remain solid for this 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.

A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Contacts

A.M. Best Company
Brian O’Larte, 908-439-2200, ext. 5138
Senior Financial Analyst
brian.o'larte@ambest.com
or
Michael Lagomarsino, CFA, 908-439-2200, ext. 5810
Assistant Vice President
michael.lagomarsoino@ambest.com
or
Christopher Sharkey, 908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
james.peavy@ambest.com

Contacts

A.M. Best Company
Brian O’Larte, 908-439-2200, ext. 5138
Senior Financial Analyst
brian.o'larte@ambest.com
or
Michael Lagomarsino, CFA, 908-439-2200, ext. 5810
Assistant Vice President
michael.lagomarsoino@ambest.com
or
Christopher Sharkey, 908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
james.peavy@ambest.com