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Bulletin: Liberty Mutual Group Inc. Ratings Unaffected By Upsizing Senior Unsecured Debt Issue
Standard & Poors, May 2011
Abstract
NEW YORK (Standard & Poor's) May 18, 2011--Standard & Poor's Ratings Services today said that its counterparty credit rating on Liberty Mutual Group Inc. (BBB-/Stable/--) and its counterparty credit and financial strength ratings (A-/Stable/--) on the members of the Liberty Mutual Intercompany Pool, the Peerless Intercompany Pool, and other rated insurance affiliates (collectively, Liberty) are not affected by the company's upsizing of its senior unsecured debt issue to $600 million. Today's issuance was privately placed notes with a 5% coupon and a 10-year maturity. Prospective financial leverage remains moderate for the rating at about 24% based on March 31, 2011, financials. We expect fixed-charge coverage and financial leverage to remain at about their current levels for full-year 2011....
Companies mentioned in this report are: Liberty Mutual Group Inc.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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