AM Besthas assigned a Long-Term Issue Credit Rating of "a-" to the recently announced $300 million 4.00% senior unsecured notes, due 2050, of W. R. Berkley Corporation (WRB) (Greenwich, CT) [NYSE: WRB]. The outlook assigned to this Credit Rating (rating) is stable.
Proceeds from the sale will be used to pay at maturity WRB's $300 million 5.375% senior unsecured notes due September 2020. WRB maintains financial leverage and coverage measures that are within AM Best's guidelines for this rating. The existing ratings of WRB and its subsidiaries are unchanged.
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