AM Best Assigns Issue Credit Rating to Chubb INA Holdings LLC’s Senior Unsecured Notes
29 Julio 2024 - 5:05PM
Business Wire
AM Best has assigned a Long-Term Issue Credit Rating
(Long-Term IR) of “a+” (Excellent) to Chubb INA Holdings LLC’s
(Chubb) (Delaware) recently announced USD 700 million issuance of
4.65% senior unsecured notes due 2029. The outlook assigned to this
Credit Rating (rating) is stable. Additionally, AM Best has
affirmed the Long-Term IR of “a+” (Excellent) on Chubb’s USD 1.0
billion, 5% senior unsecured notes issued March 5, 2024, due 2034,
with an additional offering made today in the amount of USD 600
million. The notes are guaranteed by Chubb Limited (headquartered
in Zurich, Switzerland) [NYSE: CB]. The outlook of this Credit
Rating (rating) is stable.
Chubb intends to use the net proceeds from this offering for
general corporate purposes, which may include the redemption,
repurchase or repayment of outstanding indebtedness, including the
repayment of EUR 700 million of its outstanding senior unsecured
notes due December 2024.
Chubb Limited is the Swiss-incorporated holding company of the
Chubb Group of Insurance Companies. At June 30, 2024, Chubb had
total assets of USD 238.6 billion and shareholders’ equity
(excluding noncontrolling interests) of USD 61.0 billion.
This press release relates to Credit Ratings that have been
published on AM Best’s website. For all rating information relating
to the release and pertinent disclosures, including details of the
office responsible for issuing each of the individual
ratings referenced in this release, please see AM Best’s
Recent Rating Activity web page. For additional
information regarding the use and limitations of Credit Rating
opinions, please view Guide to Best's Credit Ratings.
For information on the proper use of Best’s Credit Ratings, Best’s
Performance Assessments, Best’s Preliminary Credit Assessments and
AM Best press releases, please view Guide to Proper Use of
Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and
data analytics provider specializing in the insurance industry.
Headquartered in the United States, the company does business in
over 100 countries with regional offices in London, Amsterdam,
Dubai, Hong Kong, Singapore and Mexico City. For more information,
visit www.ambest.com.
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alan.murray@ambest.com
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908 882 2318 al.slavin@ambest.com
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