OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has assigned a Long-Term Issue Credit Rating of “bbb” (Good) to the recently announced CAD 150 million, 5.5% non-cumulative preferred stock issued by Intact Financial Corporation (Intact) (Toronto, Ontario, Canada). The outlook assigned to this Credit Rating (rating) is stable.
The net proceeds of the offering are expected to be used by Intact for general corporate purposes. AM Best notes that Intact’s financial leverage has improved through 2025, reflecting a combination of retained earnings growth, strong operating performance and prudent deployment of capital towards strategic initiatives. Consequently, leverage and coverage metrics remain comfortably within tolerance levels as a result of the recent preferred stock offering.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
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