OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has assigned indicative issue ratings of “a-” to senior unsecured debt, “bbb+” to subordinated debt and “bbb” to preferred stock of the recently filed shelf registration of Intact Financial Corporation (IFC) (TSX:IFC) (Toronto, Ontario, Canada). The outlook assigned to all ratings is stable.
The assigned issue ratings, which may be issued under the $5 billion shelf registration statement and the $1.2 billion medium term note program which is included within the base shelf itself, are consistent with the current issue ratings of IFC’s outstanding securities. The new shelf registration replaces IFC’s previous shelf registration filed in August 2013, which has expired. Consequently, the indicative ratings for the previous shelf registration have been withdrawn.
IFC’s issuer credit rating of “a-”, its existing issue ratings and the ratings of its insurance operating entities are all unchanged.
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 visit A.M. Best’s Ratings & Criteria Center.
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