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American Financial Group Inc.'s $250M Notes Issue Rated 'BBB'; Related Ratings Affirmed Jun 08
Standard & Poors, June 2008
Abstract
NEW YORK (Standard & Poor's) June 2, 2008--Standard & Poor's Ratings Services said today that it assigned its 'BBB' senior debt rating to American Financial Group Inc.'s (NYSE:AFG) proposed $250 million senior unsecured notes issue, which is due in June 2018. Standard & Poor's also said that it affirmed its 'BBB' counterparty credit rating on AFG and its 'A' counterparty credit and financial strength ratings on AFG's operating companies. The outlook on all of these companies remains stable. AFG will use the net proceeds of the issue for repayment of certain indebtedness in 2008. The ratings on AFG reflect its operating subsidiaries' strong competitive position in the specialty property/casualty sector through the Great American Property/Casualty Insurance Group (Great American) and...
Companies mentioned in this report are: American Financial Group Inc.,Great American Financial Resources 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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