OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to the recently issued CAD 300 million, 4.645% senior unsecured medium-term notes, due 2060, issued by Intact Financial Corporation (IFC) (Toronto, Ontario, Canada). The outlook assigned to this Credit Rating (rating) is stable.
The Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of IFC’s operating subsidiaries and all other ratings of its outstanding issuances remain unchanged. IFC’s use of the net proceeds from the senior unsecured medium-term notes were used towards the repayment of the $300 million, 3.691% senior unsecured medium-term notes, due March 24, 2025.
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.
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