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American Financial Group Inc.'s $350M Notes Issue Rated 'BBB'; Related Ratings Affirmed Jun 09
Standard & Poors, June 2009
Abstract
-- American Financial Group Inc. (AFG) is issuing $350 million in senior unsecured notes. -- We have assigned our 'BBB' senior debt rating to the issue. -- In addition, we have affirmed our 'BBB' rating on AFG and our 'A' ratings on AFG's core insurance operating subsidiaries. -- The outlook on all these companies remains stable. NEW YORK (Standard & Poor's) June 11, 2009--Standard & Poor's Ratings Services said today that it assigned its 'BBB' senior debt rating to American Financial Group Inc.'s (NYSE:AFG) proposed $350 million senior unsecured notes issue. AFG intends to apply the proceeds to reduce the outstanding balance on certain indebtedness, including a revolving bank line of credit. Standard & Poor's also said that it affirmed...
Companies mentioned in this report are: American Financial Group Inc.,Annuity Investors Life Insurance Co.,Great American Life Insurance Co. (OH)
Action: New Rating
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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