A.M. Best Co. announced that it has assigned a rating of “bbb+” to the proposed £175 million ($315 million) senior notes due 2009 to be issued by Australia’s QBE Insurance Group Limited, the non-operating holding company for the QBE group.
“At the same time, a rating of “bbb+” has been assigned to the 20-year zero coupon senior convertible securities issued by QBE Funding Trust III Limited and guaranteed by QBE,” said Best. “The issue matures in 2024. This issue raised USD 375 million or approximately AUD 530 million net funds after expenses. The outlook for both ratings is stable.”
Was this article valuable?
Here are more articles you may enjoy.
Miami Moves to Seize Part of Posh Island After Fuel Fight 
US P/C Industry Records $16 Billion Underwriting Income in Q1 
CSU Adjusts Atlantic Hurricane Season Forecast Due to Emerging El Nino 
Ben & Jerry’s Co-Founder Says Brand Being ‘Destroyed’ by Magnum 
