AM Best Assigns Issue Credit Rating to Intact Financial Corporation’s Senior Unsecured Medium-Term Notes

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to the recently issued CAD 300 million, 4.645% senior unsecured medium-term notes, due 2060, issued by Intact Financial Corporation (IFC) (Toronto, Ontario, Canada). The outlook assigned to this Credit Rating (rating) is stable.

The Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of IFC’s operating subsidiaries and all other ratings of its outstanding issuances remain unchanged. IFC’s use of the net proceeds from the senior unsecured medium-term notes were used towards the repayment of the $300 million, 3.691% senior unsecured medium-term notes, due March 24, 2025.

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