|[August 01, 2014]
A.M. Best Assigns Debt Rating to W.R. Berkley Corporation's Senior Unsecured Notes
OLDWICK, N.J. --(Business Wire)--
A.M. Best has assigned a debt rating of "a-" to the $350 million
4.75% senior unsecured notes due Aug. 1, 2044, issued by W.R. Berkley
Corporation (W.R. Berkley) (Greenwich, CT) [NYSE:WRB] under its
existing shelf registration. The assigned outlook is stable.
It is W.R. Berkley's intention to use the proceeds for the repayment at
maturity on May 15, 2015, of $200 million aggregate principal amount of
5.60% senior unsecured notes, and the remainder for general corporate
purposes. Following this notes issue, financial leverage and coverage
measures are expected to remain within A.M. Best's guidelines for the
assigned ratng. The ratings of W.R. Berkley's subsidiaries remain
The methodology used in determining these ratings is Best's Credit
Rating Methodology, which provides a comprehensive explanation of A.M.
Best's rating process and contains the different rating criteria
employed in the rating process. Best's Credit Rating Methodology can be
found at www.ambest.com/ratings/methodology.
A.M. Best Company is the world's oldest and most authoritative
insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS
[ Back To TMCnet.com's Homepage ]