AM Best Assigns Indicative Issue Credit Ratings to Employers Holdings, Inc.’s New Shelf Registration

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned indicative Long-Term Issue Credit Ratings of “bbb-” to senior unsecured issues, “bb+” to subordinated issues and “bb” to preferred stock to the recently filed shelf registration of Employers Holdings, Inc. (Employers) (Reno, NV) [NYSE: EIG]. The outlook assigned to these Credit Ratings (ratings) is positive.

Effective May 7, 2020, Employers filed a new shelf registration on Form S-3 ASR, which replaces its existing shelf-registration scheduled to expire on May 25, 2020. An S-3ASR filing is an automatic shelf registration statement that is immediately effective upon filing and available to well-known, seasoned issuers, such as Employers, to register unspecified amounts of different specified types of securities over a three-year period. Employers currently has no outstanding debt issuances and has no current plans to issue additional securities under the new shelf registration.

Insurance subsidiaries of Employers provide workers compensation insurance coverage and services to select, small businesses in low-to-medium hazard industries. The insurance subsidiaries generate earnings and steady cash flows to the holding company.

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