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Stock impact report

AM Best Assigns Issue Credit Rating to American Financial Group, Inc.'s New Senior Unsecured Notes [Yahoo! Finance]

American Financial Group, Inc. (AFG) 
Last american financial group, inc. earnings: 2/3 05:01 pm Check Earnings Report
US:NYSE Investor Relations: afginc.com/investors
Company Research Source: Yahoo! Finance
issued $350 million, 5% 10-year senior unsecured notes due September 2035, issued by 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. AFG plans to use the net proceeds of the offering for general corporate purposes including share repurchase. Following the new issuance, AFG's unadjusted financial leverage ratio will increase modestly to nearly 30% and remain within AM Best's guidelines for AFG's current ratings. AFG's interest coverage ratio will remain strong at over 10 times. AFG continues to benefit from consistently positive operating earnings of its insurance subsidiaries, which are reflective of profitable underwriting results supported by a diversified product portfolio and business profile through its multiple distribution platforms, in addition to significant investment income. This press release relates to Credit Ratings that Show less Read more
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