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A.M. Best Co. has assigned debt ratings of “bbb” to the $250 million 2.96% senior unsecured notes due March 2018, the $250 million 4.26% senior unsecured notes due March 2023 and the $250 million 5.83% senior unsecured notes due March 2043 to be issued by
Assurant, Inc. (Assurant) (headquartered in New York, NY) (NYSE: AIZ). The outlook assigned to all ratings is stable.
Assurant intends to use the net proceeds for general corporate purposes including to repay at maturity its $500 million of 5.63% senior notes due February 2014. The company’s financial leverage and coverage measures will remain within A.M. Best’s guidelines for the assigned ratings.