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.
Alaska Airlines Vows IT Upgrades After Outage Forces 400 Flight Cancellations 
Suspects in Louvre Heist in Custody After Week-Long Manhunt 
Satellite Data Reveals Hurricane Melissa Damage in Jamaica 
Progressive Now 4th Largest Global Insurer; RenRe Fastest Growing in ’24 
