Best Rates Arch Capital $300M Debt 'bbb-'

A.M. Best Co. has assigned a senior debt rating of "bbb-" to Arch Capital Group Ltd.'s (Arch) $300 million 7.35% senior unsecured notes due May 1, 2034. The rating outlook is stable. The financial strength rating of A- (Excellent) of Arch Reinsurance Ltd. (Hamilton, Bermuda) and its affiliated companies is unaffected. The proceeds from the senior notes will be used to repay an existing $200 million bank revolving credit facility with the remainder used to support the existing business of Arch's insurance and reinsurance operations, as well as for general corporate purposes. Following th...