OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating of “a” to the $1.35 billion 4.35% surplus notes due April 2050 recently issued by Nationwide Mutual Insurance Company (Nationwide Mutual) (Columbus, OH). The outlook assigned to the Credit Rating (rating) is stable.
The surplus note will be utilized for general corporate purposes. The ratings on the previously existing surplus notes are unchanged. Inclusive of this latest issuance, an aggregate of $3.55 billion in surplus notes is outstanding by Nationwide Mutual.
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