A.M. Best Co. has assigned an "a-" rating to the EUR 500 million (USD 575 million) subordinated notes to be issued by Zurich Finance (USA), Inc. and the GBP 450 million (USD 747 million) subordinated notes to be issued by Zurich Finance (UK) plc.
The ratings are based on the guarantee provided on both issues by Zurich Insurance Company, whose financial strength rating is A (Excellent) with a positive outlook. Interest deferral clauses are included in the terms of both issues. The proceeds of these issues will largely be used to further restructure the Zurich Financial Services Group (ZFS) a...
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