A.M. Best Assigns Rating to National General Holdings Corp.’s Senior Unsecured Notes

A.M. Best has assigned an issue rating of “bbb-” to the $100 million tranche of 6.75% senior unsecured notes, due May 2024, recently announced by National General Holdings Corp. (NGHC) (headquartered in New York, NY) [NASDAQ: NGHC]. The assigned outlook is stable. All existing ratings of NGHC and its subsidiaries are unchanged.

The $100 million tranche offers terms identical to the existing $250 million 6.75% notes issued in May 2014 and due in May 2024, with the exception of the issue date and the first interest payment date. Proceeds from the offering will be used for general corporate purposes.

Following issuance of the notes, NGHC’s unadjusted and adjusted debt-to-capital ratios will remain in-line with A.M. Best’s guidelines for the current ratings, as will its coverage ratios.

This press release relates to rating(s) that have been published on A.M. 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 visit A.M. Best’s Ratings & Criteria Center.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Contacts:

A.M. Best
Jennifer Marshall, CPCU, ARM, 908-439-2200, ext. 5327
Assistant Vice President
jennifer.marshall@ambest.com
or
Michael Lagomarsino, CFA, FRM, 908-439-2200, ext. 5810
Vice President
michael.lagomarsino@ambest.com
or
Christopher Sharkey, 908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
james.peavy@ambest.com

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.