OLDWICK, N.J.--(BUSINESS WIRE)--
AM Best has assigned a Long-Term Issue Credit Rating of “bbb+” to the new $125 million 5.875% 40-year subordinated debentures, due 2059, of American Financial Group, Inc. (AFG) (Cincinnati, OH) [NYSE:AFG]. The outlook assigned to this Credit Rating (rating) is stable. The existing ratings of AFG and its subsidiaries are unchanged.
Proceeds of the new notes offered are intended to be used for general corporate purposes. Following the issuance, AFG’s financial leverage ratio will increase slightly while its coverage ratios could decrease modestly. Both ratios remain within AM Best’s guidelines for AFG’s current ratings and are expected to remain so over the near term.
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