A.M. Best Co. assigned a debt rating of "bbb" to the forthcoming $500 million senior unsecured notes to be issued by CNA Financial Corp. The financial strength and issuer credit ratings of CNA Insurance Companies (CNA) and CNAF's existing debt ratings remain unchanged. The outlook for all ratings is stable.
CNAF intends to use the net proceeds of the senior notes issuance and the issuance of common stock to repurchase the Series H cumulative preferred stock plus all unpaid dividends accrued through the date of redemption, approximately $994 million, and for other general corporate purposes...
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