A.M. Best Co. has assigned "bbb+" senior unsecured debt ratings to the $200 million 4.200% five-year notes and $300 million 4.875% seven-year notes issued by SAFECO Corporation [NASDAQ:SAFC] (Seattle). These securities were issued under SAFECO's $775 million shelf registration previously filed with the Securities and Exchange Commission. Also, SAFECO's existing debt ratings have been affirmed while the financial strength ratings on the group's property/casualty and life/health companies are unaffected.
The proceeds from the senior debt will be used to repay SAFECO's $300 million 7.875% not...
Comments