AM Best Assigns Issue Credit Rating to CNA Financial Corporation’s New Senior Unsecured Notes

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating of “bbb+” (Good) to the recently issued $500 million 5.2% senior unsecured notes due 2035 of CNA Financial Corporation (CNAF) (Chicago, IL). The outlook assigned to the Credit Rating (rating) is positive.

Proceeds from the sale of CNAF’s senior unsecured notes will be utilized to repurchase, redeem, repay or otherwise retire the $500 million outstanding aggregate principal balance of the 4.5% senior unsecured debentures due March 1, 2026. CNAF maintains financial leverage and coverage measures that are within AM Best’s guidelines for this rating and both are expected to remain so following the new debt issuance. The existing ratings of CNAF and its subsidiaries are unchanged.

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