AM Best Assigns Issue Credit Rating to Liberty Mutual Group Inc.’s New Senior Unsecured Notes

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb” (Good) to the USD 750 million, 5.25% senior unsecured notes, due 2036, issued by Liberty Mutual Group Inc. (LMGI) (Boston, MA). The notes are guaranteed by Liberty Mutual Holding Company Inc. and LMHC Massachusetts Holdings, Inc. The outlook assigned to the Credit Rating (rating) is stable.

Inclusive of these issued senior unsecured notes, financial leverage is approximately 20% as calculated by AM Best, with strong interest coverage. AM Best expects these measures to remain within the tolerance of the assigned Long-Term IR. Proceeds from the offering are expected to be used for general corporate purposes,

LMGI’s Long-Term Issuer Credit Rating of “bbb” (Good) and existing Long-Term IRs, as well as the ratings of its operating insurance subsidiaries, are unchanged.

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