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AM Best Assigns Issue Credit Rating to Ascot Group Limited's Senior Unsecured Notes - Press Release

AM Best Assigns Issue Credit Rating to Ascot Group Limited's Senior Unsecured Notes - Press Release
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AM Best Assigns Issue Credit Rating to Ascot Group Limited's Senior Unsecured Notes

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AM Best has assigned a Long-Term Issue Credit Rating of bbb to the USD 400 million, 4.25% fixed rate senior unsecured notes due 2030, issued by Ascot Group Limited (AGL) (Bermuda) on 15 December 2020. The outlook assigned to this Credit Rating (rating) is positive.
AGL intends to downstream the proceeds to its U.S. insurance operating subsidiaries – Ascot Insurance Company and Ascot Specialty Insurance Company. The proceeds will provide additional capital and support the growth of these operations, allowing them to benefit from favourable insurance market conditions.
The rating of the senior notes is three notches below the Long-Term Issuer Credit Ratings of Ascot Bermuda Limited, Ascot Insurance Company and Ascot Specialty Insurance Company, reflecting the fact that the notes are issued by their non-operating holding company, AGL. The notes represent senior unsecured obligations of the issuer and will rank equally in right of payment with any future unsecur ....

New York , United States , United Arab Emirates , Hong Kong , Mexico City , Distrito Federal , City Of , United Kingdom , Noord Holland , Ascot Insurance Company , Rating Action Press , Term Issuer Credit Ratings Of Ascot Bermuda , Ascot Specialty Insurance Company , Ascot Group Limited , Long Term Issue Credit Rating , Ascot Specialty Insurance , Long Term Issuer Credit Ratings , Ascot Bermuda Limited , Recent Rating Activity , புதியது யார்க் , ஒன்றுபட்டது மாநிலங்களில் , ஒன்றுபட்டது அரபு அமீரகங்கள் , ஹாங் காங் , மெக்ஸிகோ நகரம் , திஸ்திரிதோ கூட்டாட்சியின் , நகரம் ஆஃப் ,